Recently my amp's volume has dropped considerably and sounds less ballsy if you know what I mean. I'm thinking it is a blown power tube, but I'm fairly new to tube amps so Im not sure. Any insight you may have will be greatly appreciated.

It could be, but it could be a number of things too. Have a look at the tubes, does one of them look different from the others (often there will be a white powder-looking substance on the inside of the tube)
If they look OK, turn it on, and see if one is glowing significantly less than the others. If not, check your cables, guitar, pedals etc to make sure it isn't something else.
Less gain could also indicate a dead preamp tube.
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