Thanks MLA and Kevin for your help.
I got the player up and running yesterday first using the variac to slowly ramp-up. Later tested it without the variac and, fingers crossed, it's working fine so far.
The device in question is a Marantz SA-1 SACD/CD player which uses linear power supply based on what I can see in the service manual.
To expand on a long story made short, it powered up but was unresponsive when I first took it out of the box. After consulting with the service manual I dissembled the unit and found a blown fuse inside. Instead of the factory spec'ed 1A/250V slow-blow fuse, whoever last serviced the unit put in a fast-blow 2A/250V fuse. Which likely explains why it's blown upon turn-on. I replaced it with a proper slow-blow 1A/250V fuse. This is when I posted my question thinking I should play it safe given the age of the unit and suspecting why the last person serviced it put in an out-of-spec fuse.
By the way, this thing is beautifully built like a tank and getting to the fuses take some work. A few photos from the web and of the exact unit.
It's wonderful sounding especially with the SACD.