I just found a vintage Lloyd's PT003 blaster. It is obviously Lloyd's answer to the famous Lasonic line such as the 931. Last night I was cleaning it up and testing it and the radio sounded great. It was tuning FM fine. The only thing wrong was that I noticed the tuning was off - it was about a half inch to and inch off for where the needle should have been for a particular station. Today I plugged it back in and now the FM won't bring in any stations but it does produce a regular static sound like you hear when tuning between strong signals. The AM still works fine and seems to tune perfectly with the needle where it should be for a station. What could cause this and how could I fix it?

What did you do when cleaning it? Did you use any cleaning solution or spray? If so, the tuning capacitor probably drifted off center and will stay that way until the cleaning solution evaporates. The cleaning solution will change the capacitance of the tuning capacitor which is why you'll see that phenomenon. If the cleaning solution used leaves a film residue, the change may be permanent.

On the other hand, sometimes the band selector switch might be intermittent. Jiggling it might allow the FM to come back. If that is the case, cleaning it with Dexoit D5 will probably fix it.

Finally, if you noticed that the tuning needle was off, it could indicate that the tuner needs to be aligned. This service is beyond the scope of something a DIY'er is capable of. Requires special equipment (signal generator, oscilloscope, stereo generator, sweep generator, marker generator -- some features might be found in the same equipment). Also, without a service manual, it's almost impossible to determine which RF transformer or coil to adjust. Usually, this is something that happens over time. Luckily for you, since this just happended, it's probably not this.

Well, that's all that comes to mind at the moment -- don't know if it will be of any help.