Ok well I decided to blow the cobwebs off this one and have another go.
On closer inspection, only a small area of the board is conformally coated - the CRT HV tripler area.
It wasn't that obvious, but there were signs of leakage from the "Mempac" 3.6V NiCd battery - and with the instrument being stored vertically this leakage had headed towards the deflection amplifiers.
After desoldering numerous components, I gave the PCB a good scrub with flux remover as I had found it to be very good at restoring battery contacts after leakage.
Reassembled and.... SUCCESS!
There is still a barely-perceptible decrease in X-deflection when breathing on the PCB, but no change whatsoever to the Y-deflection in either amplitude or shift.
I'm calling that one sorted.
The Mempac battery will not be getting replaced - I have no need to store a trace after the instrument is powered down.
Simon.