Dave,
The "connecting rod" referred-to in the Shop Manual is the "steering link" ("drag link") between pitman arm and driver's side steering knuckle (which is integral with the steering third arm).
The 1949 steering connecting rod. "Further, what affect would it have if these components were left attached"Which components? As stated in the Shop Manual (my previous post), the connecting rod (the "drag link"), one component, must be disconnected but the pitman arm can be left attached to the steering box.