Just looking back at my content and realized I left this hanging (4 years ago!) and never reported what was actually found to be wrong with the Ultravalve. I actually got out my old textbook and read up on push-pull tube amps. The section pointed out that the coupling cap from the plate of the split load phase inverter to the grid of the output tube is a frequent point of failure. Light bulb went on over my head. It explained excessive plate current burning the 15ohm cathode resistor. The caps were rated for 400 working V, and are stressed to right about that value. Replaced them with 450V units having same PCB footprint, along with output tubes and cathode resistor. Think I did some filter caps as well. It's been working fine ever since. Turned out to be fun and vindicated the time spent studying on tube electronics in the early 70's. We started with tubes and moved on to semiconductors later. I still have that textbook, Electronic Communication by Schrader.
In the process, I had a pleasant email exchange with Frank VanAlstine himself, who I believe pointed me to an assembly manual that showed the PCB layout of a later, similar model. Also found a manual/schematic for the Dynaco Stereo 70 which was helpful.