The monitor was running alright, but after 5-10 minutes red color would begin to flicker, sometimes went full out, and sometimes went normal back again for a while, quite weird, very unstable.
So began by checking:
- Connection from board to monitor, tried something different (TPG) - no change
- Gain/bias pots - no change
Took the monitor to the workbench, I suspected the issue would be at the neckboard but wanted to be sure, so using the cheapo battery powered scope measured the red color and black (gnd) wires that go to the neck board:
Having a crosshatch pattern on screen I could see certain "square" wave, because red had always the same intensity. When the flicker issue began to happen and then red was out, the wave did not change at all. I think if the issue was on the mainboard (circuit previous to neckboard) that wave should have changed in some way too, so that confirmed I should really check the neckboard.
Measured around the red related components, found a voltage difference when measuring in circuit in reverse D302 (red) vs D312 (green), later I found it wasn't the diode, a resistor
R306 (100 ohm, fusible) was open.
Replaced it with a regular 1/4w one (may later get a fusible one), I think the worst that could happen would be it burning to a crisp.
Fired it up and nothing changed

- how did the monitor work with it open? not sure.
Measured diode voltages of all red related transistors/diode compared to other colors, found nothing. Then remembered I had a similar issue in the past, it was a zener diode:
https://www.arcade-projects.com/threads/nanao-ms8-26sg-green-color-noise-what-to-check-solved.18787/
So took out the only zener from the neck board:
ZD301 15v.
Tested out its zener voltage with a bench supply, all good, that had me puzzled, but decided to try and put a new one there just in case (a bit larger but same).
That fixed the issue! - had it on for 3 hours now, not a single flicker
Also, used the schematics from
@Franck 78 https://www.arcade-projects.com/threads/nanao-sanwa-schematics.34709 - thanks again!