Modern Saint
Starve your Fear, Feed your Dream!
Hmmm... Bad output transformer? Bad power tube? Bad filter cap? What do you think, @wagdog, @realtree71, @Wyatt, and @Modern Saint?
Have you looked at the Vox AC4TV?
Good chance a resistor went out hence the smoke. As for what caused it to blow, could be bad cap or tube. Chances of the tranny going out...maybe but highly unlikely. Best to crack the chassis open and use your nose as well as eyes to locate the open component. Sadly you may have more that one component go bad - yet maybe not.