Yes - set breaker switch to on - check for power on the input side and then check for power on the output side.
Otherwise - if the machine shows any sign of electrical life with the breaker on - then the breaker is good.
On the control board the weak link is likely to be the motor drive transistor - probably a triac on a heat sink - costing just a few £$ - you might consider replacing it on spec before spending loads-a-money on a new control board - this last paragraph is all guesswork - I do not own any exercise equipment and have never repaired any.
Good luck...
Peccavi
January 2010
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