Well, since you believe that the circuit around C604 is the problem, first check R692. It connects between U506-7 and U506-6. (R691 for Left channel). It may be cracked, etc....actually, any problem in the path from U506-7 back to R692 and on through it to U506-6 could cause this.
Second, check R629, same as above. It connects between U506-6 and the audio source at U504-5.
Third, check your soldering on U506 pins; make sure removing the old IC didn't break this path, even while NOT breaking the path into C604. Also make sure there is no flux residue, etc, that could be providing a high-impedance path.
It is also possible that the incorrect voltage is cause by one of the other circuits feeding that IC. Remove R613, R616, R630, R690 and C604 (all of them as a group...keep track of which is which!). This should leave on the IC itself, R692 and R629. Does the voltage become correct? (It almost HAS TO, there's nothing else there to cause the problem!). Either way, you're down to only three parts and their associated circuitry, to work on.
When you are eventually able to get the correct voltage, re-install C604 first. This will let the (hopefully repaired) audio finally get to the Audiojack and the headphones.
Then go back and reinstall R613, R616, R630 and R690, in that order. Check after each one to see which cause the correct voltage to go bad (and presumably, the audio to go away).
[by the way, you said:
C18 - 3.19V
C17 - 3.2V
did you mean C618 and C617?]
Charlie
Edit: Hey, why did you check the voltages on those first four caps...they are not part of the ADPCM!?!?