Let's start simple.
You learned lesson one. In general DO NOT lift the playfield with the game on (Yeah we have all done it before for a quick bulb change, but it is not best) Turn off, lift to a stable position and then turn on.
Keep the game OFF for now since you smelled smoke.
Where did you sense the smoke? Under the playfield or in the backbox?
Look in the back box. Does anything look burnt or discolored? Does eveything look connected? You may have to take the boards out and look on the back of the boards.
You can check the fuses using a DMM. Set it on continuity. Lift one end of the fuse out of the socket to test. Looking at them can be deceiving. If you don't have a DMM, you can get a cheap one from RS or Harbor Freight. Every pinball collector should have one for basic testing. BTW now is a good time to check to see the correct size fuse is there. DO NOT overfuse a circuit.
Look at the back of the DMD, anything look odd on the board/connectors?
After you have inspected the backbox visually, look at the underside of the playfield. This may take a while.
First question-Why do you think you pinched a wire? Did you feel tension in the wires when lifting the playfield? Did you lower the playfield and catch wires? Or are you just guessing that is what happened? If any of the above happened, look in those areas first.
Lift the playfield to the vertical position. Make sure you protect the backbox from the apron hitting it. Do not force it up. If it feels it is binding or resisiting, look below to see if the wire bundles are snagging on something. The pf should be lifted up and pulled forward until it rests on the lockbar. Then grab the bars and slowly lift and rotate it upward. You will have to pull the bottom toward you a little-it does not pivot like the B/W games. REMEMBER: Take the balls out or block the lane so the balls don't go falling all over the place.
Look at all connectors to make sure they are seated and connected. The entire pf wires to connectors that lead to the backbox.
Look at all of the wires and see if any are broken or "pinched" as you said.
Look to see if any coil wrappers look burned or melted.
Look to see if any of the switch or coil assemblies are touching or grounding against things they shouldn't be. Maybe when you lifted the playfield you bent an assembly inadvertently.
Start there first. You could also post on RGP-there are many many people on there who have experience with Sterns.
BTW when you lower the playfield and slide it forward, you can avoid ramming it backwards over that hump by gently pulling down on the underplayfield rails when sliding it. Do this while the rails are resting on the lockdown bar. It should move easier.
If all else fails, ask a local collector to come over and help you.
Good luck, keep us posted.
