Hey, I ended up fixing it by turning the reel by hand until the sensor lined up. Then it just worked
Thanks for your help everyone. Next I'm going to replace the PSU board (the speaker is making a horrible buzzing noise that I want to reduce).
After that I'm going to see if I can decompile the source code and have a play and see if I can make it "fairer" (ie I'm guessing hi/lo results aren't truly random and are based on the takings of the machine). Should be fun :-)