I know you said funds are limited, Mark, but you may want to have an avionics shop take a quick look. They can pull it out (or you could) and bench check it. Probably wouldn't cost a lot and would let you know for sure if there is something wrong with it and if so, whether or not it could be easily fixed. It might just be a fuse or something like that, either internal to the radio or in the airplane. Our #2 NAV/COM fuse sometimes acts up even though the fuse it good. I can turn the fuse holder and it usually starts working. I would hate to see you spend money for a new radio when you don't really need one (even though I realize you may want a more modern radio). The second NAV/COM may not get used a whole lot.
That's a great idea. I am also (per suggestion) going to swap COM 1 and 2 around to see if it's the tray/wiring. I just need to stop flying it and do some troubleshooting!