Here's an update -
Plugged the thing in after replacing almost every part. It works! That is, the 12 volt output starts at 19 volts then stabilized at 17 volts. (??) Close enough, right? After removing power, the voltmeter stayed on 17 volts for a few minutes until I connected a load (a fan) to drain it.
Connecting the voltmeter to the LAMP outputs and powered up again - I got 0.20, then realized it is probably AC so switched the voltmeter to AC and got 0.00
Odd.
Why not connect the bulb to the power supply and just see what happens. OK!
Connect the lamp, power on, POP! a flash of light! But not from the bulb -- No, it was from one of the C5071's blowing up.
See picture of the aftermath..
http://www.usbjunk.com/halogentransformer1-10.jpg
Any idea why this happened? Could it be the wrong 'type' of C5071's? I think maybe so.
Here is a picture of one of the old one's (middle)
http://www.usbjunk.com/halogentransformer1-11.jpg
Another look at the traces on the bottom of the board -
http://www.usbjunk.com/halogentransformer1-12.jpg
Why connecting the bulb would make the C5071 blow?
The 2 amp fuse (actually circuit breaker) did not blow.