Rebuilding the idler arm is conceptually easy—you just take it apart, clean it, and put it back together, using all the new pieces from the rebuild kit. The bushings need to be pressed into place (easy to do) and bored to 0.922 inches (hard to do). The old shop manual called for a reamer to bore the bushings. However, a professional auto machinist did it with a special hone, and only charged me 25 bucks. The rebuild kit came with 2 rubber seals, grease fittings, a pin, and the end caps. Putting it back together was trivial, except for getting the end caps in place. In retrospect, the end caps need to be filed down to fit, hammered in place, and then secured with a punch, applied to the 4 corners of the associated indentation in the arm.
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One doesn’t remove the 3rd arm very often, so I opted to remove and repaint the oil pan. (Yep, it’s green!) The new gasket cured the oil leaks too.