I have a similar situation with the backhoe on my old Massey Ferguson. There are two ways to look at it, at least in my case. To fix everything properly and have it working 100% and tight is simply not an option, the cost would far exceed the value of the 50+ year old machine. The options are as follows.
1. Use it! Fix what breaks when it breaks and learn to compensate for some slop. Don't dig near anything you value :)
2. Fix just the really bad stuff. For me the worst things (currently) are the main boom pin and a leak from one of the control valves.
And I guess a third option would be to sell the machine to someone who can make do with it and save for something better. Eventually it's what I would like to do but if I kept fixing things on my old beater I'd never save any money to do so.
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