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The steering in my '79 feels sloppy and has a lot of play. I think it is related to the bushing being worn out (See arrow). When I turn the wheel this bushing compresses.
Would this make sense and what is this part called?
Also referred to as the Rag Joint. It looks like yours is pretty beat. Many of the forum vendors sell GM replacement rag joints. The price is generally a little less than what a dealer charges, usually in the $80.00 range. Try Willcox. I think they sell GM rag joints. Zip's may also.
be sure to check out jim shea's articles on the steering system at (jimshea.corvettefaq.com).important section on the aftermarket ragjoint bolt system and his recomendation to save some of the old hardware. good luck.
The slop can come from several places. The rag joint, steering box and the control valve. I wound up having to replace the rag joint and control valve. That took out most of it.