Thanks for the thoughts guys!
To answer some questions:
The oil in the trans seemed and smelled fine but was somewhat low. we had to drain it to fix a leak and also fixed the strainer in the bottom.
No filter just a fine stainless mesh.
There is only one mark on the dipstick, no min max. We also do not know what the design capacity is.
The only external hose to the trans is a metal one. The other two to/from the cooler is hydraulic type hoses so doubt they will have issues.
We adjusted the leverage of the inching pedal (the linkages/fulcrum were all missing so had to be made up) and it seems to work now. In F the forklift just sits there with the pedal in or out. Once the revs are increased with the pedal out, it starts moving forward. Pedal in or ease up on the revs causes it to stop/slow down. Reverse is still a bit touchy. When in Reverse with pedal in it slowly crawls backwards, when the pedal is let go, it runs and with pedal in again, it slows down. It does not seem to let go completely. Could just need a bit of exercise to work better?
This was all without the brakes working properly yet. We fixed the brakes and now you can stop when going forward but reverse is still a bit unsafe as even with the brakes applied it wants to crawl back. This is with activating the inching pedal which in turn activates the brake pedal.
The "synchronization" of the two pedals with regard to the amount of travel as well as the inching valve free play and brake adjustment would appear to solve the "dead band" between activating inching and activating braking and thus eliminate the "freewheeling". The only problem is we have no documentation or experience with this and then there is also the inching pedal leverage which we made up so not sure if this is correct ratio or not.
Any comments/suggestions of the adjustments are still welcome!
Anyways, thanks again, saved us from removing the transmission, for now…