I've got a Bobcat 3 Phase. I don't have the complete serial number on me but it is LJ0xxxxx series newer machine.

It starts fine, idles good. It is generating 115Ac power at the plugs, and the run idle works correctly when you apply power at the plug. The welding output will produce a light arc (enough to burn the tip or stick the electrode) and the machine will idle up to full power but will not weld.

I have replaced the F1 and F2 fuses.

I have OCV on the weld outputs of:

CC + and - of 26.8V
CV + and - of 26.8V
AC @ 30V

The brushes are showing 16V.

Is there are good starting point to troubleshoot this machine?