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I have a 79 Ford I'm rebuilding and the steering feels a little loose. I have adjusted the screw on top of the gear box and the truck still seams to go all over the place. I believe it needs a new gear box. Would you trust a used one from a junk yard or spend the money for a new one. They have quoted me around $159.00 for a new one with a $50.00 - $90.00 core around the local parts stores.
Personally I would go straight to the rebuilt and be done with it. You should check your tie rod ends by squeezing them with a large pair of adjustable pliers. There shouldn't be any movement.
Also the adjustment on the box isn't really for play. It's for preload. It can be adjusted slightly.
Dennis,
Strangely enough, the power steering boxes are available and cheap.
Its the manual steering boxes that are worth there weight in gold. Funny thing is, nobody wants them.
KingFisher
Its strange, as I have moved around the US, I notice a slight fluxuation in price parts. Not in the steering gear, it is the same everywhere I go. $159.00 US
I had a 78 4x4 Quadravan, I ended up replacing my gearbox when I moved the suspension over to a 85 van (different offset for the pitman arm and gearbox shaft) it didn't help, just as loose as ever. I replaced all the tie rod ends....a little better, then I finally got off my rear-end and adjusted my tie rod ( I think it was adjusted a little short) and everything was as good as I could remember (I bent the tie rod and had it replaced back in '88 so my rear-end was getting pretty big.)