Hello,
First, excuse my English.
I just noticed this thread. My approach would be like this, been there (anti-electrostatic discharges measures taken into account):
1.clean lens with diluted isopropyl alcohol or glasses napkins and blow quality (no residue) canned compressed air below it (from some distance);
2.clean and re-lube with siliconic grease the guide for the laser head (the little stainless steel rod);
2'.clean the linear potentiometer inside the mechanism;
2''.one drop of light oil for the turntable motor will not hurt;
3.replace electrolytics in the servo stage (mostly top right in your photo);
4.replace electrolytics in power supply stage of the servo stage (middle/middle right);
5.check and eventually re-do adjustments exactly as in service manual using an
analog oscilloscope (or a, probably, USD 2500 digital one) and a frequency counter; schematic of that 'servo gain adjuster' is available, I'll look for it, if interested; also, you'll need a tool for mechanical adj., I don't know its name in English, I'll post a photo if someone else doesn't chime in;
6.measure power output of the laser diode thru the lens with specialized device and eventually... replace it

; once decided to replace it and found the replacement

, you can start fiddling with the infamous potentiometer and start over from point 5.
After each step check functionality, maybe is not necessary to go any further. Use good quality CD pressings (big record houses from late 80s to early 2000s) for testing. Do not expect playabillity of CD-Rs, although not impossible.
If your player can do the revers search (using that dial) flawlessly than you can consider that you did a great job.
Best regards, good luck,
Cosmin