I just thought I'd give you some news about this.
I finally got it to work last weekend. Opened the beast and inspected all parts.
I found a small discoloration near a resistor. Tried a few replacement I had that weren't the exact same value and I was able to get compression but at an extreem volumes and with the knob to maximum.
Intriguing enough, I first thought a smaller value with send more current to the light in the compressor but no it was the other way around. I guess it uses some kind of signal cancellation and the current needs to be lower at one end to let it hit the Opto cell. So after a few tests, I ended up with a 4.99k resistor instead of the original 1.2k. Man these old preamps circuits are alive and changing overtime and that's why we love them !!! As for now, the action of the compressor knob gets better precision that it ever did since I got it. (used) For exemple ; to get the same degree of compression I needed to put it at 7 when I got it and now at 4 (very similar to my other LA-610)
I've used it everyday all week without a glitch, so I think I'm good !
Thing is, this unit sounds better than the other one I have. Clearer, better transients, more in your face. It's a big relief that I got it to work ok.
When coupled to my T47 DIY mic, it's a blast !!
Lately I was talking about changing one of them for a ISA220 or 430 but I'm not so sure anymore. . . They sound so different but yet alike.
I'm thinking that I should wait for something totally different that what I have in my preamp list. Like a Millennia STT-1 Origin. At around 2.1k used.. it will take a while to get money for it...
Anyway, my LA-610s work so I'm a happy man !!