'93 Sunsetter Steering question

I recently bought a 1993 Malibu Euro F3 Sunsetter 201. The steering has about had it & I've got a couple of ??'s. First of all the steering wheel moves up & down quite a bit at least 1-1.5 inches either way. The previous owner said it has tilt & has been loose for a while, I don't see anywhere to adjust the tilt though. Second, the steering is getting worse everyday, super tight in spots, & just locks up sometimes, until I turn it back the other way. Popping noise coming from the "gear box?" Not sure if thats what it's called. I called skidim.com today to see what I needed. He says my boat has a morse cable, but said I could replace it with this http://www.skidim.com/prodinfo.asp?number=UFLROTECHKIT17 He said it should work & will eliminate the tilt, but move the steering wheel about an inch closer to the dash. I always read on these forums, that the first thing people recommend when someone says there steering is tight, is the cable, but never read anything about replacing the "gear box" Another person told me I just need the "gear box" because the gears are probably stripped & that the cable is hardened.
Just wondering if anyone else has had these issues & what they did.
Sorry for the long winded post

Skidim is top-notch their recommendation is dead on. The hardest part is running the cable but the installation is pretty straight forward.

To prevent future failure lube it periodically with a marine grease.