1JZ, use this schematic as a reference for what im suggesting:
http://www.cbtricks.com/radios/cobra/29ltd_29ltd_st_29wx_st/graphics/cobra_29_ltd_classic_sch.pdf
coming out of pin 10 of the PLL, we connect to C94, then to L22, then to C87, then to pin 4 of the VCO chip.
notice that pin 4 of the VCO chip is an input to a mixer internal to the IC, and the output goes to pin 6 of the VCO chip.
now follow pin 6 out of the VCO chip, and where does it connect to? pin 22 of the PLL chip.
something tells me that there is a problem with L22, as it is the most likely culprit in the chain, aside from the VCO chip itself, which could be bad, but i wouldn't start there.
does L22 seem to peak with the slug dead even with the top of the can?
this would be a false peak because it is the maximum inductance value of the can.
when this happens, it is the internal capacitor of the tuning can that has gone bad, and the tuning can needs to be replaced.
if you haven't messed with L22 yet, peak it per the service manual using your oscilloscope, or failing that, an RF probe on your DC voltmeter.
if you can't find any problems with L22, and it seems to peak properly, then i would start with the little disc caps in the chain. these are: C94, C87, C163, C86, and C93.
also check R94 to make sure it is at 100 ohms.
also make sure to re-heat and re-apply all the solder connections in this area, especially the PLL and VCO chips.
coils also!
if none of this yields any clues or solutions, replace the VCO chip. (can't remember if you did that once already or not)
right now, L22 seems like a very good possibility.
does the channel 9 function work correctly?
LC