I've got a working PD-444, so far so good! Good luck. If the connection to cobra doesn't help, you might try Bill Thalman at Music Technology Inc. He is reportedly good at repairing almost any vintage TT.
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Yes, all of the caps were replaced along with several other parts. The problem appeared to be corrected; the table ran at 33 and at 45 for hours-long periods without a hitch. Then the next day when the table was turned on and tested, the speed lock problem had returned for both speeds. Very frustrating.