When we powered it on, it emitted smoke from near where the power supply is. We immediately switched it off. Had a look inside, no evidence of damage but from where the smoke came out is only the mains socket, no electronics. The socket is wired directly to the mains transformer. I can only deduce that there must be a short in the transformer windings.

The inside is generally clean, but the transformer core laminations are showing signs of rust.

Obviously very well worth servicing - a great old analogue polysynth with a lot of depth.