when i hear people say that they see DC voltages fluctuating wildly on a digital meter, it usually means they have the meter set to read AC voltage, or are trying to use the chassis of the radio as the ground connection.
i only mention this just in case, because we would be chasing our tails.
so make sure you have the meter set to DC, and the negative lead goes to PC board ground, not chassis ground.
I agree with unsoldering the legs of the driver and final and then starting to check voltages.
start right at the power plug positive, make sure the voltage coming in to the radio is steady, then key the mic.
does the voltage drop on TX? it shouldn't, especially since the driver and final are not connected.
Be sure to check the RX/TX light on the front of the radio, that it is green on receive, and turns red on TX.
steady DC in to the radio and no voltage drop on TX?
then start following that voltage on that trace and see where you lose it or it starts going crazy.
follow it through T2, past the On/OFF switch, through R104, and then to the collector of TR23. (might be mounted on the chassis)
now check the emitter of TR23. you should see 8 volts DC here on RX and TX. do you?
use this schematic:
https://web.archive.org/web/2019110...29wx_st/graphics/cobra_29_ltd_classic_sch.pdf
we will stop there for now.
LC