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Sorry to hear its not solved yet. I would have sworn it sounded like a bad pump. I thought I was the only one to get lemon parts. I guess at this point you may want to replace both the valve and ram to be sure.
I think I have the same problem as you. I was thinking about replacing my power steering pump first and seeing if that fixes it but now I think I will wait and see what you find.
Also make sure the hoses from the control valve to the ram are on the correct sides.
This is a question I asked the local Corvette shop . Which hose goes where ? I was told they criss-cross and that if they were backwards , it would brake my arm (with the steering wheel ) .
Can anyone else tell me or even post a pic of how these lines are supposed to run ? I would highly appreciate it .