Need help MTH M-1

I would first try to see if a different transformer  (any MTH transformer) might work.  You didn't mention the "three clanks of death", but if the board is completely fired, it may not offer the warning.  See if you can borrow an MTH transformer first.  If you don't get the three clanks, and nothing else helps, you may need an electrical overhaul.

I put out a call for help with the T-Track group I am a part of, and the HO club in town.  I don't know of any O gauge clubs to try and make contact with.  Hopefully someone will answer.  There is no way I can build a layout with 72" corners, so I bought it with the plans of selling to help pay for the items I wanted to keep.  I my just have to cut my losses and sell it as-is.

You left out 2 very important data items.

What model Transformer and what MTH # is the engine, IE is the Engine one of the ones that is particular about the power it sees.

Specifically, some older PS-1 Engines will not run on a chopped sine wave.

These engines won't even run on many of MTH's current transformers!

Almost all modern transformers use chopped wave outputs.

Now, a bit of detail:

Does the engine "click" when power is applied? (May not apply, you did mention it lights up.)

Have you tried powering it up at low power for a minute prior to anything else?

Transformer is an old Lionel 1053.  The MTH loco is 20-3042-1.

At low power it lights up, nothing else.  As power comes up, I do hear a slight click, like a relay latching. whistle button on the transformer, makes lights brighter, but it was unreliable on the other locos also.

Oh, yes, I have powered it on just to where the lights come on, and leaving it for 5 minutes in case the battery was an issue. 

You should really post this on the MTH DCS forum to get the best results.  Can't tell from the catalog entry if this is a Proto 1 or Proto 2.  Do you know?

If Proto 1 and you are not getting the 3 clanks of death immediately on start up, then shut down and put a brand new green MTH battery in it.  Do nothing else until you replace the battery!!  If the bottom of the engine has a Proto 2 sticker on it, then the battery is not a critical issue.  However you are talking about an engine that was made 15 yrs ago and will definitely need a new battery if it has not had one.  

A new 9V battery is at the top of the list.  This is a ProtoSound 1 locomotive, so that's where I'd start.

The 9v did show voltage, but I installed an alkaline thinking that might be the problem.

At a guess, I recently had one of these with a bad PS1 ROM chip (the small chip on the top of the sound board). The owner was happy with a used turbine chip, with a new battery it was good as new. On the downside, the loco is LARGE. We have 88 inch curves on our layout with a tunnel in the middle, and it was a no-go. It looked good snaking through the double slip switches, tho.