Mike, This was obviously owned by a guitarist because of the internal linking of the channels and the mentioning of David Gilmour. Linking the channels increases preamp gain, I think. If you knew any guitarists that used four input Marshall's(think plexi's) usually they would use a small patch cord to link two of the inputs together. The same thing can be accomplished with this pre amp, this guy just wanted it hard wired permanently for his use-so it seems. The M output is now a mono output of both channels, but I'm not sure if it's like this with a stock unit.
Now about converting it back, I don't know ANY competent tech that would do the job for $40.00 as most guys I know charge $60-80.00 per hour for their time not counting parts. It probably is an easy fix though.
So for quality parts and labor to get it back in original shape your probably looking at $60-80.00 plus cost of unit, shipping and your time to find that competent repair guy(unless you know one already-and I have'nt met one yet here in Knoxville, or you can do the work yourself).
His price seems to be what newer-used stock F2-B's are going for, so I'd wait for one to pop up as they do pretty regularly.
Oh and one more thing, these units don't have direct outs on them. so you'd have to go and buy two great D.I.'s because you would'nt want to put some junk piece of gear in line with all that Alembic quality now would you?