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I had the exact same issue with my truck, though it is 4wd. I paid $55 for a gear box rebuild kit and I was very easy to rebuild. Youtube will show you how.
I actually found those rebuild kits today and was wondering about them. I like the idea of rebuilding my spare box and swapping it over buying one just so I know what I have. I took the truck from a rolling chassis to running and driving I'm just trying to get all the bugs worked out before replacing the bed sides and painting it so I feel pretty confident in being able to rebuild the box myself.
Thanks for all the input guys, I finally had time to really mess with it today and the box adjustment was the problem.
After pulling the set screw all the way out and cleaning it all up and slowly working my way in adjusting it I have tight steering with no binding! Took it for a drive and all was well now I can move on with the last few little bugs and be ready for the body work.