fwiw i reckon you've got one fault there, not two.
the change cycle description in that 1229Q manual (p.14) explains it - as the record drops, the cam rocker (173) shoves the cam follower lever (207) back to its start position, and that's what lets the arm swing in and set down. if nothing comes off the spindle the rocker can't move that lever, lever stays put, and the arm is allowed to swing back to the rest instead. so "record didn't drop" and "arm lifts then parks instead of indexing" are the same event - the deck has decided the stack is empty. sort the drop and the arm behaviour comes back with it.
for the drop itself p.15 gives you something you can measure instead of guessing at. cause listed is too little cam rocker travel. hold the three supports in the changer spindle pushed in, main cam at neutral, press the change screw - the support should move about 0.2mm (1/64", fig 25). adjust the eccentric til it does.
"sometimes it drops, mostly not" is textbook marginal adjustment btw. when the travel is borderline whether a record separates comes down to how heavy the stack is and how thick that particular pressing happens to be, which is why it works on some records and not others.
couple of free things to rule out first though.
mode selector actually in multi. the manual lists "records do not drop with changer spindle in place / mode selector set to single" as a trouble and the remedy is literally "this is normal". catches people.
and the spindle itself. pull it out and work the supports by hand, they should snap in and out crisp and the same amount every time. sluggish or uneven is nearly always 50 year old grease in the slide rather than actual wear - flush it and put a trace of light oil back. only cause the manual lists for the neighbouring fault (last record of the stack keeps repeating) is just "defective spindle", so they clearly expected them to go off. parts list at the back calls them AS 12 / AW 3 if you end up shopping for one.
whole adjustment is a couple hundredths of a mm so anything that drags eats your margin before you start. hardened grease on the main cam especially.
as for whether it's worth bothering - the same cam and levers run the single play cycle too, so you're not doing it purely for a feature you'll never use.