Radio soups like crap
Aftermarket units could have muliple fuses for the amp and head unit.
Typically, loss of the amp would mean loss of power to the speakers i.e. no sound.
If you are still getting sound, check the speaker connections.
There are two amplifier transistors, one on the stereo decoder box on the firewall and the other on the single convector heat sink also mounted on the firewall (passenger side). The chances of them being bad are extremely slim as they are each rated at 15 amps and the whole radio draws about 2 when cranked up. What your radio is experiencing is old age.
The electrolytic capacitors in both the radio and the stereo decoder/amp are degraded due to age and the electrical contacts (AM/FM switch, etc..) are corroding. This is just something like not changing your oil or spark plugs for 40 years and the engine stalling out.
When the radio has been gone through thoroughly and freshened back up, you will be absolutely amazed how good it will sound (excluding those lousy original 4X6" dash speakers). The 68-72 radios were one of Delco's success stories for the older Corvettes. The stereo version has loads of volume unlike the monaural which is working its heart out to drive two speakers at once. And a full stereo auxiliary input jack will bring it out of the dark ages.

Find a tech you trust and get an estimate. That radio is worth saving IMHO...








