I have owned two of these and it is a great game/player.
The holo may have no effect on gameplay but it is a essential part of the game and without it the pinball is just not the same imo.
If the mirror motor and light assembly work you can get a replacement holo( slightly different in looks than the original to avoid a law suit from universal) from pinball heaven in the uk.
I put one in the last Jap creech I had after the seller sold me a whole heap of crap about the original holo being fine...turned out it was anything but fine.
The replacement is bright green and looks fantastic.

Thanks for the info .. didn't know about that option from Pinball Heaven.

I have been wanting to get one of these for about 18 months .
This one appealed because its in good condition and has a lot of bling added