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I think it's easier to loosen the steering box.
Sometimes you can slide the upper part up and the lower part down and not have to loosen anything. You need to spread the clamps open so they can move on the shafts further.
Regards,
Alan
I performed this repair recently. I spread the clamps with a wide bladed screwdriver, removed the bolts holding the "rag" joint and removed it, slid the top clamp up, slid the bottom clamp up and removed it, then slid the top clamp down and removed it. Reverse the procedure to install the new joint. I never had to loosen the steering wheel or steering box.
Typically there should only be from 1 to 1.3 inches of clearance between the end of the steering column shaft and the gear input shaft. That is not sufficient distance to remove either flexible coupling part or the column flange. You should drop the column or release the gear from the frame to make your clearance.
One of the monthly Corvette magazines suggested prying on the shafts to make more clearance. That will cause the steering column shaft to collapse into the steering column. It may gain you clearance but it is typically a real b*tch to get it back out to its original length.
I dropped the steering column and pulled it back into the cabin to gain the necessary clearance. Sounds like a big job but it is really pretty easy to do. Soak everything with PB Blaster for a couple of days in advance if you can. It will help everything come apart easier.