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I'm not real familiar with the older "REAL" mazda trucks but I'll try to help.
First off, shocks will in NO way affect ride height, so it's not them.
If you have torsion bars, make sure the adjustment bolts have not backed out.
Take a close look at the springs and make sure none are broken.... run your hands over the entire coil assembly, as they can break sometimes near the bottom or top of the spring and you won't necessarily be able to tell visually.
Check the ball joints and control arm bushings for play, as this can affect ride height sometimes.
Given the age and the design of the vehicle, I'd be willing to bet it's most likely a sagging spring somewhere.
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