I have a 91 300 SL with the getrag 5 speed and the reverse lockout is a little touchy. Sometimes it works perfectly, but there are times when lifting the knob just doesn't open the lockout. Is there an adjustment to this and where should I look? Not a big issue, didn't buy it to park, and the trans is great otherwise.

Does the whole shifter feel sloppy? I've seen on other trans where the shifter ball cups wear ( the concave washers that form the socket portion of a ball joint )

Look up Ford Ranger MR5OD shifter repair and you will see what I'm talking about. Note, the Ranger does not use a lift shifter lock out, it uses a stiff spring.

No, the shifter feels great, no slop at all. I am thinking something in the lift/lockout needs tightening just not sure where the adjustment is.