[PhilcoPhan1936]

When I did the restoration of my 116PX, I noted that the main power transformer also gets hot to the touch. There is a little wax that has leaked out onto the wires coming out of the transformer underneath, but it's not excessive. I did build a bucking transformer, and run it through that, and it does help. I think it runs around 109-110v. It still gets warm after a couple hours of use, but not like it did without the bucking transformer.  
I have yet to service my 116B models. Since they are a similar 11-tube chassis (I think the output tubes used are different), I'm curious to compare if the transformer on the 116Bs will run as warm as the 116PX.