Here's an update on my progress. So far everything ohms out correctly. All motors, coils, and heaters check out with the meter. However, I did find one bad coin switch. I don't know if it is the penny, nickle, dime, or quarter. It is underneath the coin mech. There are three visable switches on top and one hidden on the bottom. Luckily my son found an internet site that had obsolete switches. The new/old switch is in and works fine.
I'm very happy with the way it is coming along. The disassembly and clean up is going well. Boy there is a lot of micro switches, heaters, motors, and relays. Especially with this changer model. All the major components are done (except the boiler). The boiler checks out fine. It was still full of crystal clear 1970's water. The heaters ohm out as do the solenoids but when I was taking it apart I ran into some asbestos and I will wait until spring, when I can go outside, and remove it. Nothing major, luckily it's just the coragated cardboard variety.
My other option is to buy a small instantaneous heater, but I'm worried about the water in the tube after the solenoid being cold in between cups. Maybe I can use Stoners flush switch before making the first cup. Anyway, the Quick and Hot is the cheapest that I found and is the one I like the best. Costco has it for $130.00.
http://www.costco.com/Browse/Productgroup.aspx?Prodid=11226343&whse=BC&Ne=5000001%204000000&eCat=BC|103&N=4007885%204294909484&Mo=0&No=0&Nr=P_CatalogName:BC&Ns=P_Price|1||P_SignDesc1
Here are some pictures of the progress.