If the voltage was being pulled down to around 2 V, due to current shunting, something would be smoking.
Probably there is a high resistance connection in the connector or the soldering around the connector pins or diodes.
It would be really helpful if the circuit of the transformer/external capacitor was posted along with the regulator/diode wiring diagram of the pcb. On my PET at least, there are two wires returning to the pcb from the capacitor's + terminal and they are required to complete the circuit, but I have no idea if this PET is the same.
I have attached a diagram, possibly right for this PET, but this wiring needs to be correctly documented and posted before fault finding can proceed. The OP should always do this to help others help him/her.