Marc Koval, find his info at meridian unplugged dot com.
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I suggest to clean a lens with isopropyl alcohol (IPA) first. In majority of cases proper lens cleaning solves the problem.Try this, but if it's still no good, it's new laser time CDM12.5 / VAM1205
cheap enough, and if your just a little mechanical an easy replacement Go the whole mechanism as it's easier than just replacing the laser.
Be mindful on some lasers on the ribbon cable there was an anti static solder bridging blob that needs the be removed after installation otherwise it won’t work.
Too bad- the 508 was a nice machine in its day. Not surprising bough that it’s no longer supported- it’s a 20 year old machine. A Few companies continue to support 20 plus year old stuff. In hifi, I know Bryston does. In watches, a 20 year old Patek, Rolex or Omega is easy. A 50 year old Leica camera is easy too. Old benzes are also easy but not cheap.
A friend recently spent $500 to repair an older 808 and unfortunately the repair was only partially effective.