Attempts towards resolution:
Unplugged machine for a day, dismantled power supply, sprayed electronics cleaner in connectors and wires, let dry, reassembled (no change)
Removed and cleaned all socketed chips using a pencil eraser (no change)
Confirmed +5V and -5V at edge connector when the board was powered on
Observed the appearance of glitchy pies wasn't random, but always occurred after 5th fireball appeared
Removed and cleaned 7C - 7F chips on VIDEO board, this time using a wire brush dremel attachment and electronics cleaner (no change)
Sprayed electronics cleaner into and around power connectors on both boards, wipe clean with q-tips, blow dry with cool hair dryer (FIXED)
Once I realized that I could quickly confirm the problem by waiting until the 5th fireball came out, and seeing if the pies stayed normal or began glitching, it was simply a matter of trying things until something worked. The ends of the pins in the cables and power connectors on the PCBs looked slightly blackened or "rusty" since I last had the glitchy pies a year ago. The electronics cleaner made them silvery again.
Hope the pies don't come back again for a while -- but if they do, I should know how to correct it right away.
WARNING: electronics cleaner is flammable, if you're using it make sure it dries completely before supplying power to your PCBs, or risk their lives!
Cheers
Oh and here's the old KLOV thread when I had the same problem over a year ago
http://forums.arcade-museum.com/showthread.php?t=211031