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For a long time the guage has read 3/4 when full ok I can handle that but now it has started to drop the reading more rapidly. The last time I filled up thinking it was empty it was half full. Do you thing with the age a 71 250 that just the float has a problem or the whole sending unit. Quite a price difference. My thought was the float is getiing water logged so to speak.
Been there done that I think it is the float because it is a linear drop just happening faster. It has in the past just stopped registering probably from a bad connection but now it just drops faster than before.
the float after alot of years will rub a very very small hole in it,them gas gets into it and wont let it "float" to the top like it should. these floats are still avalible from ford number dummy can give ya the part number