Well, guess I would start by disconnecting the power supply output from the radio and see if the xformer still gets hot - for starters. If it is not hot; then it may be a shorted cap or device somewhere downstream in the radio.
Checking or replacing the rectifier might not be a bad idea either. But if the xformer is still hot; then it may be another short in the PS or the xformer is going south. But replace the disc caps if you must, since this isn't a huge cost nor take a lot of time and let us know - please.
When I rebuilt my TRC-458, I went over all of the PS solder joints replaced the electrolytics, put new heat compound on the pass transistor and rectifier, and installed a heat sink on the regulator after replacing it. The zener diodes were OK, and so was the PS and was put back into service.