Where might I find these "pre load switches"? I'll also look at what voltage pin #7 puts out prior to pushing the free vend button. What does that other relay do that's in the same box?
sorry, about time to make dinner for me & my boy, but the one should be the credit relay, I'd have to see the schematic to determine the other. if you push the top of the credit relay, it should self-latch, at which point you should be able to select a drink button, the other relay may be a time-delay to terminate the vending credit either after the selection has been delivered, or after a specific "time-out" has been reached in which case it may unlatch the credit relay.
I just thought of something else too, some of these earlier vending machines had a delivery switch somewhere about the bottle (can) chute exit, typically attached to the bottle door ( can door in your case) if it's not set correctly, (IE: the door is closed) it may interfere with a vending cycle too.
32 volts is too low, unless it's stuck in the middle of a vending cycle. the switches are typically located on the bottom/underside of the delivery tracks it detects a minimum number of cans in each column ( usually two or three minimum) about two -cans up the serpentine rack, the cans sit on it & tell the coinmech that there is enough product to vend,
ALL of the columns must have at least 2-3 cans each in this type of machine.