I'd be inclined to run it like it is unless the clutch is slipping and the hydraulics are shot completely.
My expereince has been that on major reworks I spend more than a good newer tractor could be had for. For example, a good used 7610 Ford series II with 3800 hours sold here out of the city motor pool for 7500. If your tractor is worth 4000 like it is and you put 6500 in it thats nearly 11,000 toward a newer tractor. The 806 could need an engine, injector pump, anything in the very near future.
When I start a project I always try to calculate what the tractor will part out for. If I can fix it for what the components are worth, or when I get to 500 over what it will part I break it up. It took me 3 times to learn that buying a tractor for 5000 and putting 5000 in it still left me with at best a 5500-6000 tractor. Just not my kind of economics when good late model tractors that dont need a bunch of stuff can be had in the 10,000 range.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let�s make one more addition to our series on hydraulics. I�ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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