Alright, first troubleshooting was all the easy stuff, one at a time: switched input tube, switched output tube, switched headphones, switched input, switched DAC ...all to no avail.
I then flipped over the top plate to take a look at the circuit and solder joints. Nothing jumped out as a bad/cold joint. When I completed the build two years ago, the joints were shiny and all resistance and voltage checks were good.
So, as Doc suggested, I turned the amp on while the top plate was inverted. And after downing a Monster for extra alertness, I carefully started probing the amp with a plastic chopstick, gently tapping on solder joints. First the RCA jacks, then the input selector, the balance pot, volume pot, tube sockets, terminal strips, output caps -- and there! The channel comes and goes when I tap one of the right output cap solder joints. The joint looked a bit dull upon close inspection. I turned off and unplugged the amp then reflowed the joint, added a little more solder, and kept the heat on the joint for a few more seconds before pulling the iron tip away. Nice and shiny!
All's good again! I've been listening for the past three hours and the output is strong, even, and without any drops.
Thanks for the checkup, Doc!