Jim,
The LED flashes continuosly(but changes in frequency then cycles) and yes, the IC's are installed with pin 1 on square trace( as pin 1 on the left).
Here are some measurements that I made.
From DC jack: 15.35V
Ramp gen: pin2=6.42V pin3=8.55V pin1=4.92V
Base of Q2 (from schematic)= 6.45V
Source at R22,23,24,25=13.03V
Noise Source: pin 7=7.24V
SSineWave Gen: pin9 = 7.8V, pin2=5.24V,pin3=6.45V
Modulator (MC1496): pin6&12= 13.62V pin10&8=0.169V pin1=4.86V G+=4.0V G-=4.0V
Output Amp(LM386) For both: pin5=7.17V
All values are DC voltages!
Thanks