I would remove the L+R output circuit, disconnect the resistors, to remove the last common connection between the two channels as a trial.
Then confirm the grounds to chassis from the main out RCAs.
You will need to systematically work your way through the unit to confirm which section is shorting the two channel together, or causing the section to seek a ground reference via the other channels signal carrier.
Repairing the ground drains between circuit boards is just SOP with this vintage of Mac preamp, it must be done so it should be confirmed before any purchase.
The pre-amp is behaving just as if you had the amps connected to the central channel outputs, but you don't.
So just a long shot but maybe somebody rewired the two top main outputs to the center channel internally. Maybe someone wanted to run several mono amps for sound in several different rooms for background whole-house audio where stereo was not needed. I noticed some labels stuck on the back next to the top main outputs; what are those for?
Doh! Some people have no business wielding a soldering iron ...Found it!!!! Moving around the unit, fixing the grounds, I took out the volume control and found this glob of solder across the two input connections. Desoldered it and Wow this unit sounds great! Separation is what I expected and the all functions including balance work correctly. Love it!
View attachment 1089878
Someone must have wanted to bridge left and right and not use the built in center channel, because I cannot imagine soldering this bad by accident!
Thanks for all the help, suggestions and support, guys!