Hey there. My other half inherited a 1970 mercury cougar convertible. It is just the base model and believe its all original. The question we have for now is we were wondering if we should replace or just rebuild the stock power steering pump ?
My power steering was rebuilt before I got the car. I adjusted the steering box to tight up the free play. My car drives as like it was when it was new. The power steering system ford used was not very good in my opinion. It works but not very responsive to steering input, and after driving new cars ,it takes some getting use to. I plan to replace the power steering on mine with a borgason steering box that has a faster ratio. I think this will make the steering more responsive and less troublesome .
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It depends on your goals for the car. There are definitely better steering options than what it has if you want to start upgrading. Same for the suspension and the engine. You can certainly make it however you want it, but a restomod approach is gonna get expensive.
On the other hand, if I wasn’t planning to spend the money to make it like I want it, and was just going to drive it as is, I would want to keep it original by rebuilding the pump that’s on it. If your car really is all original, that makes it more rare and adds value.
That’s my two cents, and probably not worth much more than that.