Sounds like a considerable amount of work was done on this set vis a vis capacitor replacement... so, there is always the opportunity for a solder splash or misplaced lead to have reared its ugly head in the form of a dead short from B+ to somewhere that it does not belong.
Possibly, but by no means certainly, the resistor incineration is related to the dead FM function. This symptom suggests that B+ that should go to the FM stage(s) is getting misdirected, most likely by the means just described.
One common reason for one mode or the other smoking a resistor is a shorted bypass cap on the B+ to that section. This essentially puts a dead short from the selected (FM or AM) section's B+ bus to ground. Usually the guilty caps are larger, 0.1 uF units. Since it was implied that all caps have been replaced, this is probably not the problem.
I would CAREFULLY examine the mode switch for errant solder globs or splashes, then check every new part for good lead dress (i.e., no leads touching). If no luck, you are going to have to break out the ohmmeter and track down the load to its source. This shouldn't be too tough since you have a good schematic with which to work.
You MUST find the short before you proceed with troubleshooting the FM section. One war at a time, if you will.
Fixed mica caps CAN go bad but their failure rate is far less than that of contemporary tubular wax-paper/foil caps, probably due to the strength and durability of the mica dielectric and their hermetically-sealed construction. I would eliminate all other suspects before thinking about indicting a fixed mica cap. An open cap is often hard to diagnose short of just replacing it. A leaky or shorted cap is much easier- it will pass DC voltage, acting more like a resistor than a capacitor.