I think that's a good idea with a used T-5. Pop the top and look at the syncros and fluid. If you got it used I'd say there are even odds that the previous owner of the tranny had it rebuilt at some point. If the syncros look good and there isn't any babbit in the bottom of the case, check the seals, flush the tranny and fill it.
The worst that could happen is that you'd have to rebuilt it when it breaks (or replace it with another used one).
PS- I got my used t-5 for $100. A rebuild kit for a t-5 runs around $125. The quotes I got to have a tranny shop rebuilt it were in the $600-$900 range.
'51 Chevy 1/2 ton w/'62 261, HEI, offy, fentons, dual carter/webbers, t-5 & 12 bolt posi
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