I don't think it is a low quality board (it is from John right?). However, a board can be damaged during soldering. Happens to me sometimes too. Doesn't mean the board cannot be used anymore. You just have to make sure the connection that is damaged gets restored.
Here are some points to check to help you debug.

The yellow area (1) is the main +9V line. Here is where the 9V enters the PCB. Measure here. Do you get +9V ?
Next, go to yello area (2). This is where the 9V gets to the 5V regulator. I can see now that the area is damaged. Check that the pin makes contact with the 9V trace. From your report I expect that that there is a problem here.
If there is no contact, you can swap in a new regulator and bent the pin for 9V to the trace. That's how I often solve these issues.
Now check blue (3). This should be reading 0V since it is connected to ground. Does it read 0V?
Finally check pink (4). This is where you would expect 5V coming out of the regulator.
Your voltagereadings do suggest there is more wrong than just the 5V reg. However, I'd say first try to fix/verify this.