The issue with FastRAM was a bad connection to one of the RAS/CAS lines on U890, after fixing that it all started working. The finish on the legs of some of the NOS IC's isn't very good (presumably due to age) so it appears what looks like a perfect solder joint isn't necessarily making a good connection at high frequency. Had to clean up the legs so they look nice and clean, and re-install that made a big difference.
I decided to swap out U450, and got a display

as a test I put the suspect U450 in my A1200 as a test and got exactly the same display so we know that is definitely faulty. Installed U700 (DiagROM works fine without it installed) and managed to get it booting properly into Kickstart and workbench, and was able to run some software.
After playing around with that for a few hours, powered it on and was occasionally getting no display. Went back to DiagROM and when there was a display, started to get weird issues where I couldn't get DiagROM output on the serial port, but the serial tests would pass with characters getting sent and received.
The the system started misbehaving, not wanting to boot at all. Power supply started making a chirping noise (no idea why as I hadn't changed anything) as if it was shutting down and restarting - never a good sign. Checked all the voltages, everything looks correct. Tried another power supply, no difference.
Without changing anything, DiagROM then started to output in the serial port again but started to crash at "Set all DMA enablebits" and the system has got steadily worse since.
I'm now getting no H sync / V sync, no activity on the serial port even with all RAM removed.
Occasionally I'll get a burst of activity on the CPU bus, but it's mostly dead and stuck at 5v.
Clock inputs to U450 show little/no activity as if they are being dragged down, so something has died.

All I can think of doing now is removing U450 and see if I start to get some activity, it felt like it was getting a little warmer than usual.