I just rebuilt mine from my 67. It was SMB-B, which is the same type they put in the 66 GTs, Shelbys, and Power Steering models. For all practical purposes they're all the same. The worst part for me was finding the "rare" and non-reproduced pitman arm that converted my 1" sector shaft power steering to manual. I used the rebuild kit from....
http://www.stangerssite.com/steeringsysteminfo.html
which comes with excellent instructions and his site will more than give enough to read. You will need a torque wrench that reads 0 to 10 inch pounds. This reading is very low as far as torques wrenches are concerned and don't confuse inch pounds with foot pounds. 25 foot pounds is about what a spark pug requires so you can get a feel for what 10 inch pounds would be (alot less). Actually tearing the box down and building it back up went smoothly for me, however it would be easy to damage the needle bearings if you pressed them in crooked to start with and the kit does not come with extras. This preview of a Mustang Restoration book fortunately has all the pages neccessary for rebuilding the box, so enjoy.
Mustang Restoration Handbook - Google Books
I was lucky enough to have the right size sockets that fit the bearings so that they could be tapped in. The right way would be to press them in, but I don't have a press so some patience and a hammer did the trick. The most important aspect of rebuilding your box is to be able to recognize worn out hard parts. In general, your boxes from a pwoer steering car will have much better hard parts than the boxes that were in a manual car because the boxes from power cars saw much less stress. The two links have all the info a guy needs to determine if he wants to tackle the job. The toughest parts is getting over the fear of the unknown.
Stangerssite has a good reputation among Mustang forums and so does this place if you choose to find a rebuilder instead of doing it yourself...
Rode's Restoration
1406 Lohr Road
Galion, Ohio 44833
Phone (419) 468-5182 / Fax (419) 462-1753
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Ride On,
Noel
"I'll fix it or break it, Guaranteed!"
My Garage - 67 Mustang Coupe, 67 GTO, 67 Sprite, 72 Chevy PU, & Old Ford 8N.