Dec 28, 2010 10:05 pm Hey tie32101.
I would love to able to say with absolute certainty that I knew what is wrong with your reel to reel. But, there are just too many factors to consider.
It could be the head is misaligned, or just plain defective. You could have a blown component on the output, or even the input op amp from the head. A tape that was only recorded in mono.
Without seeing the unit in person, I really wouldn't be able to give you a definite answer.