How to check an IC?

Actually, the R x 1 scale on a Radio Shack analog multimeter is undoubtedly not a 1 ohm scale. It simply means that the number indicated on the dial scale by the pointer should be multiplied by 1, as opposed to being multiplied by 10 if the R x 10 scale were selected, or by 100 if the R x 100 scale were selected, etc.

There should be a small knob somewhere on the multimeter, labelled as "ohms adjust," or something similar. While touching the two probes together, turn that knob until the meter reads 0 ohms. If you can do that, then make your measurements on the cable. If you can't do that for any setting of the knob, it means that the battery in the meter is weak and should be replaced.

After performing that calibration, so that you have a reading of 0 ohms on the R x 1 scale when the probes are touching each other, as was indicated above the cable should measure either 0 or a tiny fraction of an ohm from center pin to center pin, and from ground sleeve to ground sleeve, and it should measure as an open circuit (infinity ohms) from center pin to ground sleeve.

When checking for shorts (i.e., between the center pin and the ground sleeve), it is generally good practice to use a higher scale than R x 1, for instance, R x 1000, to make sure that you will see the small deflection that may result from a high-resistance path between the two points, that shouldn't be there. When you do that, make sure that your fingers are not touching the metal tips of the probes, or you may see a deflection of the meter due to the resistance of your skin.

Regards,
-- Al

Almarg,
You are the man- it was low battery, after changing it and adjusting "ohm adjust" knob, I got the following:
IC #1: appr. 0.5-1 ohm b/w ground- ground and the same b/w center pins.
Infinity b/w ground and pin.
IC #2: 0.5-1 ohm b/w grounds, but 3-4 ohm b/w center pins
Infinity b/w ground and pin.
Does it look, like there is a problem with IC #2?

Yes, 3 to 4 ohms sounds too high, assuming that the length of the cable is not extremely long (for example, 50 feet!).

If you are confident that you did the measurement properly, and that before and after you made the measurement you checked that the meter read 0 with the probes touching each other, I would say that you have a marginal connection at one of the connectors.

Regards,
-- Al

Thanks, I'll try to re-do the RCA plugs. My soldering skills are in the developement stage yet.

BTW, what temperature on the soldering gun do you guys use for sodering RCA plugs?
I have Hakko 936 iron, and use WBT 4% silver solder.
When I used 700 F, as recommended by Chris Venhaus, I found it to be insufficient for this particaular job, and had to use my old RadioShack iron, which, I guess is hotter, and that did the job.