leapfrog thanks for the input. two people with similar issues helps rule out misinterpretations. maybe you can follow along with your broken radio and provide some perspective.
definitely a weird one, and something that i have not run across on a 29LTD, or if i have, i have forgotten what the heck was happening.
Buckskin, thanks for the clarification.
The bad news is, you have a problem that is going to be next to impossible (for me) to track down without having the radio in front of me (others may be able to do so, but i would need to test it myself).
however, in the interest of not leaving you in the lurch, and knowing that you would rather try something than do nothing; we can take a few random stabs at the problem and hope that we get lucky.
again, others may be able to help you more, so if you start seeing other advice to you in this thread, heed it.
ok, looking at the schematic, i might see a way that your radio can have no receive and no transmit, but still switch the LED. (this is a guess!)
check the voltages on TR23 in both receive and transmit. TR23 will be larger than the others on the board and looks about like the driver and final transistors.
post your findings.
next, unsolder all three legs of both the driver and final transistors and lift them off the PC board so they are not connected to anything, but are still bolted in place.
use this tutorial (or read some others) to learn how to test transistors using a DMM:
https://vetco.net/blog/test-a-transistor-with-a-multimeter/2017-05-04-12-25-37-07
this will also show you how to test diodes, which you will also be doing.
both your driver and your final transistor will be leaded B-C-E with the transistor right side up and facing you, legs toward the ground.
check both of them using your meter, and post your findings.
now check C8. you don't have a capacitor tester, so the only test you can do is to remove it from the radio, and check it for a short. (it should read open)
if you can find another cap of the same value from another radio, you can switch it out to test it. (it is a 15 picofarad cap)
now use your diode check mode on your meter to check diodes D1, D2, and D3.
you will have to lift at least one leg out of circuit in order to test any of these parts.
post your findings on all of these tests.
a word of caution!
don't do two tests at once. resist the temptation to unsolder everything at once.
http://www.cbtricks.com/radios/cobra/29ltd_29ltd_st_29wx_st/graphics/cobra_29ltdwx-st_29ltd_sch.pdf
http://www.cbtricks.com/radios/cobr..._st/graphics/29ltd-st_29wx-st_sm_pg1_pg11.pdf
http://www.cbtricks.com/radios/cobr...st/graphics/29ltd-st_29wx-st_sm_pg12_pg34.pdf
use these guides to help you.
good luck.
LC