After spending some time talking with my local transmission and axle shop owner, I've pretty much decided this isn't the safest or most reliable thing at the moment, and probably needs a complete rebuild from a professional. I do get that he makes his living from telling me that, but I also trust his opinion. He did set up my corvette a couple years ago and I've been happy with that.

Now the quest begins to know exactly what I have, and gathering the parts I need to do the job.