Got a call from my friend... He researched the FT-8500 model and from his understanding those radios were the last batch of radios that had the capacitors made in the late 80's/early 90's that were of poor quality. He was amazed mine lasted this long... Another friend in Iowa might be offering to repair the radio for me since I do not have the equipment or resources to do such a repair at the moment.
As far as the 706... I might have better luck as long as I take an easy on her. LOL!