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So I really went to town with deoxit on the edit button (as well as the others again) and the issue is resolved.

FWIW Myriad Magnetic sells a completely new manufactured PCB assy PB-78H if you don't want to fuss with the switches: https://www.ebay.com/itm/305733890070?itmmeta=01JCGZJG7CA10F1XBMN25E3V3E&hash=item472f28f016:g:hdYAAOSwVV5mwLSF

Just curious - was there any indication the switch was faulty in terms of normal operation? I haven't pulled out the PCB to test the switch w/my multimeter just yet, but when the switch is pushed in/ON the green indicator light lights up and the capstan starts spinning... when in the out/OFF...

I have not yet resolved my issue. Sounds like I pursue the same course of action with the Edit switch... Separate question, but I also noticed there is no capacitor C801 on PB-46Q. I can't find reference to it in the schematic, so I guess that is the intended design?

Yes - I have confirmed the switches are OK with the multimeter, and tested with the remote as well.

I'm having the exact same problem - FWIW, I swapped out IC605 and it did not solve the issue. However, pins 13 and 15 weren't putting out +5VDC when I engaged the REW/FF buttons, but voltage was present at pins 3 and 5.