Hmm, then the problem is internal to the valve. I wish I could find it again, but I read a blog several years ago online of someone's adventures in fixing the Tel-A-Depth system on a 560. He had to get into the valve and replace some gears in there, and get them timed correctly as I recall. Good gears are not easy to find and not cheap if you do find them NOS from what I remember. Probably worse now.
You can replace the Tel-a-Depth valve with a common hydraulic valve which will make the hitch behave like a 400 or 450's fast hitch. The valves are the same from the 300 all the way up through the 560 so they are relatively inexpensive.
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