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Rick,
Check the Corvette Faq, at http://www.corvettefaq.com There is a whole section on steering repair. We are also very lucky to have a member of the Forum (Jim Shea) who was a long time employee of GM Saginaw Steering, he knows just about everything about the steering system of the C-3. If you can't find what you are looking for in the Corvette Faq, then Jim Shea, will be able to tell you just about anything else you could wonder about.
Good Luck!
If you want to send it out, I'd suggest you send it to Van Steel and let them rebuild it. I've had them do 2 for me, and seen several examples of their work. All have been top notch.