The amp is a Bassman 4 x 10 reissue. I changed two of the lower speakers. I can't seem to reach the top ones as there is little room to work in there. The top two are the original Jensens and the bottom two are now Weber blue pups (alnico). I have ruled out fret buzz and I will try the other checks you have mentioned, in the rehearsal studio.
You will need to remove the chassis to get to the upper speakers. If the amp has Jensens in (is it the hand-wired Ltd Edition version? How old is the amp?) then I would not suspect the speakers, although I don't especially like the Jensen RIs. If it is the version with Eminence speakers in, the these do tend to tear and I would be tempted to have a look at them. By the way if you are going to remove the chassis have someone help you will this, and don't forget the P-clip on the mains cord!
If the speakers have been changed I would double check their phasing as well.
I did turn the bass down but it had little effect.
Probably not blocking distortion then.
Can the amp be upgraded by a tech I.E new transformer, choke filters etc, or would I be wasting good money for little improvement in sound (tone).
Changing the choke is pointless. Changing the PT is only worthwhile if the plate voltages are way of vintage spec. Changing the OT
may be beneficial, although Fender do use good transformers wound on paper like the originals, so a genuine "upgrade" (if such an item really exists) will be expensive, and in my opinion not worth the money, even more so if you are paying someone to do it for you.
I use a telecaster with pile drivers and my les pauls get a go now and then. they have mule / stormy mondayin one and an abraxas / riff raff in the other. the bridge pickk up in the tele is quite a high output pickup. Would this have an effect on the bass problem?
You do need to be careful when using humbucker loaded guitars with Fender amps due to blocking distortion, although from what you say this doesn't seem to be the problem with your amp.
I suspect you have a problem in the power section, possibly the filter caps, although the problem could simply be you need some new correctly biased output valves.