God, I love you Shedshrine. Thanks for the kind words and the kind measure!
I tried to post this earlier but apparently I forgot to submit the post!
Okay, so I was able to fix the problem.
For me the process went as follows:
Reel Servo Tension Roller Adjustment
The following process CAN help/cure playback, fast forward, and rewind issues on your Tascam 388. A simple adjustment to the Reel Servo "knobs" can adjust how your tape machine does these functions.
Step 1: First, power on your 388. Take off top cover of 388, behind the VU meters and above the in's and out's. Do it gently as to not harm your pride and joy.
Step 2: After cover removal, find the section of about 8 "knobs". They are above the tape window in a vertical orientation. They don't look exactly like "knobs" but that's why I'm putting quotations around it. If anyone can inform me the technical name for it, please do!
Step 3: Press play on your tape recorder.
Step 4: While tape is in motion, find the "knobs" named R 112 and R 212. These are the adjusters for the
Tension Rollers.
A Reel Person's suggested Tension Roller orientation.
For me, my tension rollers worked best a little lower than A Reel Person's suggestion.
Step 5: Watch the adjustments made to your rollers. Try playback fast forward and rewind. Work until you find an adjustment where everything is working well.
Step 6: Feel great about yourself because; no, it's not a dead motor, no, it's not the end of your 388, and yes, you just fixed your most prized recording possession.
The beauty of this DIY fix up, is that you can't really screw up your 388 in the process if you just stick to the aforementioned process. It's all mechanical and you can fiddle until it works up to your standard. Another positive thing, is that none of this altered my play/record speed and that's the most important thing on this board!
Now go record something!!!!!!