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The unregulated 12 volts can read 10 to 14 V

The +12 V logic feed is not regulated, so it moves with line voltage; anything from 10 to 14 VDC is normal and does not mean the power supply needs work.

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Source: Repairing Williams System 3 to System 7 Pinball 1977 to 1984, Part One, Clay Harrell (pinrepair.com)