I repaired a problem with one of the sides of my CPT-180 toaster that was fixed by replacing C1. This may be the same component that Stan was referring to, as the C1 capacitor on the circuit board I was having problems with was bulging. I've attached some photos showing C1 bulged out compared to C1 on the good board.
C1 is the main power supply capacitor and if it goes bad, the circuit board power supply won't function correctly. This can lead to a broad spectrum of problems like the lever not staying down or the toasting control/timing circuits malfunctioning. If you replace the capacitor, it is best in most cases to replace with the same value as the orginal (220uf on my toaster)---you can usually get a replacement capacitor at Fry's Electronics. Replacing with a higher capacitance may be acceptable, but you should understand the impact to the rest of the circuit before you substitute a higher capacitance value. The voltage rating and temperature rating of the replacement capacitor should be the same or greater or the capacitor will fail quickly. Note the max temperature rating of capacitor C1 is +105C---toasters get hot (duh!) and the temperature around the circuit board of this model gets quite warm, so the temperature rating of the capacitor is critical. Finally, make sure the substitute capacitor fits when installed (requires soldering) and does not interfere with surrounding circuitry or other toaster mechanics when the circuit board is put back in place.
C1_location (next to screw)
Comparing_good_C1_with_bad_C1--note bulge on bottom of right C1
Bad_C1 showing capacitance, voltage and max temperature ratings