* Buy a new position sensor. When you match the new part to the one on the engine, you'll see what you're up against. It's not a difficult job. Just a little time consuming to route the nearly 3ft of attached cable under the intake manifold and over to the ignition control unit. The little "omega" clips that position the cable will probably break, so you might want to pick up 4 or 5 of those.
* Don't try to splice the cable. Replace the new sensor with it's new cable, just as it comes in the box. There's an allen head bolt holding the sensor itself. Get a good fit with your allen socket; i.e. don't round out that bolt head. Once the bolt is out, if the sensor is hard to get out, use some penetrating oil and work the sensor back and forth, gently pulling it out as you go (of course, you've already removed the oil filter to make more room). Then, with a bore cleaning wire brush, clean out the sensor bore. The new sensor should slide in easily.

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ASE Master Tech
Quality Enterprises
Mercedes Svc. & Restoration
Sheridan, IN
317.769.3536