the one main bad thing about the repair/modification i see is that you will need to grind off the welds and remove that plate holding the 2 springs to replace them, with the original setup when you move the shifter it moves the plate but the springs allow it to have give so that it is a smooth acceleration, not jerky.
after that i see in the hydro slop vid that the lever for shifting is way to sloppy, should be nice and snug but move freely forwards and in reverse. if you want it to all work smoothly you will need to replace or shim the worn parts. hope it helps a little
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