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5th Gear going bad What to do?

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Old 05-23-2011
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5th Gear going bad What to do?

Please do not flame me. I did a search and did not find an answer. I have 1994 Ford Ranger extra cab with 4.0 v6 4 WD and my transmission has issues.
5th gear does not work, not a big issue except when on the Interstate. I have tried it out and when you put it into 5th gear truck starts slowing down and makes a funny noise.
1st gear jumps out all the time unless you physically hold the shifter.
So, my question is, should I have the transmission rebuilt or find a salvage yard replacement.
The truck has 183k miles and the engine is also getting weak. It does not leak or burn oil but it is down in power when going uphill and the top end has a lot of clatter (think diesel engine)
My 2nd question is should I just find another truck and get rid of this one or should I find another engine and transmission? I am also toying with the idea of putting a 302 in it and finding a 5 speed out of a Bronco or F150. If I do that will I be able to reuse the current electric shift transfer case. I know that this has been discussed in the v8 forum but I am wondering what the best options are as far as accumalating the parts for an easier conversion at a reasonable cost. The truck body is in good shape except for 1 dent behind the passenger rear wheelwell and the truck is rustfree. I like the truck because it rides good and because its paid for. I am undecided about retaining fuel injection. I think if I found a wrecked full size Bronco or F150 I could probably come out better but not knowing about the transmission transfer case issue has me wondering. Suggestions please or a link to articles would be appreciated.
 
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