The high switch appears to bypass that 47ohm resistor. In low, I would expect it to get warm since it would be eating about half of your input power. I would recommend that resistor be carbon composition, not wirewound or metal film as it is in series with the RF input between the relay and the input xfmr, and adding inductance probably throws off the match.
Are those through holes plated or do they depend on the part lead to connect the two sides? I ask because the blue inductor up against the input xfmr doesn't look like its leads go back through like they originally did.