It has had a lot of work done on it, to bring it up to code electrically, to make it bombproof in terms of reliability for another 50 years, to make it a more usable amp, and to make it more Marshall-y. I'll try to lay out all the changes below:

Power supply upgrades:

Rubycon and MOD filter caps.

1N5408 Diodes

MOV protection varistors on power tube plates

1k 3W screen resistors

High quality flame proof power resistors

250 Volt bias caps

Lar-Mar Type 2 Master Volume with shielded cable in existing output hole

Changed PI and coupling caps to Marshall Plexi values

New Carling standby switch.

New power cord wired according to NEC code.

Death cap, ground switch, and 2 prong accessory outlet deleted.

Power Transformer center tap to first filer cap ground.

Cooling fan wired independently from power switch.

1 Ohm resistors on the power tube cathodes for convenient bias measurement.

Preamp mods:

250uF/820 on V1A Normal Channel

.68uF/2.7K on V1B Bright Channel

470k Mixing resistors

1MA Alpha pots

.0022 Coupling cap on V1B

470pF bright cap on bright volume pot

Switchcraft input jacks

Shielded input wire

Mustard caps in tone stack left as built.

The amp has been modded to be very close to a Model 1987 Marshall, with and added Lar-mar master volume on the back.  The MV mod works great. It sounds and works better than any other type I've installed- sounds good at half of 1 on the knob, with the preamp volume cranked. It's killer.

If you're not in agreement with what I've done to the amp and want it to sound like an original Traynor:

All of the above changes (minus the power section upgrades) can be reversed with the baggie of components included with the sale. I'll include an annotated schematic with all the changes.