I tried some stuff. I ordered a new chip and installed that. No change.
I studied the diagrams and noticed pins 7, 9, 11, and 14 were not connected to VCC on the pcb trace. They were connected to each other but not to VCC, so I made that correction. The hiss seemed to be a bit less, but it was still there. I then reflowed every solder joint and replaced the Density pot. I checked the value of C14. It's all good.
I play thru a Deluxe Reverb and I have the bright cap on a switch, and when it's on it amplifies high pitched hissing noises. I usually play with it on for what it does for my cleans, but with the bright cap bypassed the hiss is reduced. I'm having the same scenario with my Mach 1 build atm.
So now I have decent functionality with the Density knob maxed and then down to about halfway before it gets too hissy. The volume of the hiss is affected by the mix control and, it seems, also my guitar playing input. Overall I believe it's at an acceptable point now, but it does bug me that it's not 100%.
I'm trying to understand what the 4049 chip is doing to set the frequency going into pin X1 of the FV-1 chip. I understand that when the Density control is maxed, it bypasses the 100k ohm resistor between the two amplifiers arranged in its circuit. I just don't understand how they create an oscillation. I don't have a background in electronics theory but I do enjoy learning, especially during the troubleshooting process.