[blykins]

What you're describing is not a Toploader. Toploaders are not aluminum. It seems like you have a SROD transmission out of an early 80's Ford application, before Ford started using T5's.

I personally wouldn't put any time or effort into it.

A buddy of mine says that these have sloppy shifters from the get-go, so it may be just the nature of the transmission.

However, if it needed a rebuild, I think I would pass and find something a little more modern and gutsy, or a true Toploader 4-speed.