from the looks of this picture even though its harder to tell when you zoom in....the outer legs of the 8 volt regulator look like they are not soldered properly. try to pull up on them with a dental pick or mini screw driver. Not hard though. Your just making sure they are making a good contact.
Can you please elaborate:
You said that the TX light does not light up when you transmit. AND what do you mean by the meter shows 20 watts? which meter? on the radio when you key up? OR is it stuck on 20w all the time?
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