Normal receiving and local printing work perfectly - both on I-Telex and in Local mode with T56 FSG - Also prints fine on Line Current test box.
When the punch is switched on I get "Alphabetti Spaghetti" this happens under all test conditions.
I have thoroughly cleaned every part of the machine, lubricated everything generously, I have also set the motor speed witht the tuning fork whilst depressing the "Run Out" lever as per the service manual instructions.
Having exhausted all of the ideas to solve this problem, time for the experts to help

Any clues where I should look next?
Cheers
Sean