Well, I finally got the opportunity to test out the compressor clutch today - I put 12 volts to it and it seems to be working just fine. So it would appear that my problem is electrical. While I had the juice to it, I hooked up the gauges to see what I'd get. With the compressor not running, my high and low pressures we not exactly the same (86 psi low/100 psi high). However, once I engaged the clutch, the cool air came on and the system was allowed to stabilize, I had the following pressures (32 psi low/185 psi high) - which seemed pretty normal to me. The outside temp was about 78 degrees F and the system was producing cool air at about 52 degrees F.

Any thoughts on a next step? Should I assume that the problem is further up the electrical line somewhere because (as I indicated before) the crappy insulation is coming off. If so, I guess I am in for a long rewiring job. Or, should I rule out any other options first?

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'95 E300D ("Tank") - 231,000 miles
'79 240D ("Biscuit") - 197,250 miles (Sold)
'83 240D ("Ding-Ding") - 217,000 miles (Death by deer)
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"Back off, man. I’m a scientist” ~ Peter Venkman