Hi Shane,
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Seems the resident gurus here are lately less inclined to chat so I'll step up for what it's worth. Don't be alarmed about the oil, it's how the rack is supposed to be lubricated, weird as that may seem. The disintegrated bushing must be dealt with and I expect someone in this community might know of where you'll find a replacement for purchase. Otherwise it's a matter of disassembly, which isn't too ugly, and having a machinist turn a replacement in Delrin.
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Cheers
Steve
