Cheers MJS, annoyingly it wasn't as simple as operator error on my part! Having taken my NAC 32.5 and a 160 down to my workshop and done some more faultfinding, the problem seems to have been that the relay in the NAC wasn't consistently closing on power up - so the NAC would appear ok, but not pass audio apart from a classic "open cable" type hum. It seems to be behaving after a lot of on-off switching, I suppose it may be prone to sticking as it's normally on 24/7? I'm assuming that either it's coincidental that it did it with the SNAPS not the Hicap, or it's something to do with the power delivery of the SNAPS (not having sufficient oomph to click the relay over somehow?)
Here's the SNAPS btw...
It looks like the main cap has been replaced, and possibly the tants, but the bottommost resistor on the LH reg circuit has been replaced with a preset (to allow adjustment of output voltage maybe?) I'm wondering whether it would be worth upgrading the regulators to a TPR4 or used Hicap reg board?