I agree with
@JD - aside from a bad
toggle switch, those are about the only two things that can go wrong with the Comet's lamp
circuit. If you have a multimeter, you might be able to
meter the
voltage at the
socket. Dim lamps could have been a failing
transformer, but it also could have just been the fact that those MR lamps tend to get foggy reflectors and/or lots of carbon buildup on the inside of the lamp capsule as they reach the end of their life.
How did the pins look on the old lamp? That will tell you a lot about the condition of the
socket. I had to replace a few of these after about 15 years of service. Kind of a pain, to be honest.
Altman didn't think to make those easily field replaceable as it requires drilling/replacing a few rivets and butt-splicing a new
socket and lamp carriage. Only about $14 in parts but easily an hour of labor.