The verdict is in, and it is not good. My repairman confirmed my findings in regard to the meter, and he replaced the capacitor in the bottom part of the camera. This improved things somewhat, but not completely. He looked further and found that the capacitor in the upper part of the camera is leaking, too. Thus, since repairing this hard-to-get-at cap would cost more than what the camera is worth, he offered to send the camera back to me. I agreed.
This is quite disappointing. Though I like the handling and features of the XG-M--and the low cost of MC lenses--I am almost ready to give up on the Minolta system. Are the XG-Ms unreliable? I have heard that they are good cameras, but I welcome any user input here. What makes this harder is that I have another XG-M body on the way (I picked it up last week very inexpensively on eBay...original box and all), and two more Minolta lenses on the way--the MC 28/2.5 and an MD 50/2 (again, both were very inexpensive and appear to be in great shape)...
Thanks,
Glen