I treated myself to this radio as a kid, $40 USD in 1970, back when a dollar was still worth 80 cents. (Over $300 USD today dollars). Had it for at least 2 decades (wife remembers it) but lost track of it. Had the best sound and remember listening to Elton John on a NYC FM station while I was 90 miles away.
Anyway, somehow ran across it on eBay and they now sell for about $20. OK, mono, but I got rid of all my stereo stuff when we moved. Not even a TV.
The issue was 60 Hz hum with volume all the way down while listening with earbuds that was not present on Batt. Cord reversal did not help. OK. Replaced the PSU caps
Still great sound although my ears are far from what they used to be (no one used hearing pro when shooting or using chain saws).
There were two things that made me take a second look. First, Panasonic used the chassis as the high side and sent the negative end to the ckt board.
Question: Why did Panasonic elect to do this? I thought it was convention to send the negative to the chassis. See attached schematic. S3 is the selector switch (set to Batt) and S2 is the power switch (set to Off). The positive terminal of the batt pack is sent directly to local ground (chassis).
The other thing is look at the board! Can you imagine hand soldering and aligning this on a production line?? Very tight fits. And although it uses AFC, it does a great job on selectivity and sensitivity.