Greetings from RojoLand!
First off, you need to replace all those gray tubular Suzuki 0.1 µF 400 V "oil capacitors." There are around a dozen or so in this set. Four of them are visible in your picture; they're mounted on the brake assembly (between the reel tables), the pinch-roller solenoid (under the supply reel table) and the shutoff-lever switch (under the take-up reel table). There are more behind the control-button assembly, and several more inside the deck which could instead be a potted unit. They tend to fail short, and in some situations will go Pop-BANG! and spew their guts (phew!). A shorted Suzuki-bomb connected across a switch that's supposed to be open can cause your symptom. Replace all of them with 0.1 µF 630 V tubular film capacitors, or Y2-rated caps of the same value, or dedicated "snubber units" which combine a 0.1 µF cap and a small resistor (120 ohm or near that) in one unit.
I'm assuming you are testing the machine with a tape. Without tape, it's normal for the reel motors to run fast. Also, does the pinch-roller lever move freely and fully press the pinch roller against the capstan? Old grease that's become sticky and binding up the pinch-roller lever is a common issue on these decks.
What is your deck's serial number? (Metal label affixed to the cabinet back) Is your machine's record amplifier an RA-40S or the newer AR-40S? There are at least four different schematics for the A-4010 series, so this information will point to the right one.
Take care,
—
J. E. Knox "The Victor Freak"
Current caretaker of A-4010S S/N 48104