Will, although I'm unfamiliar with the V8 engines I know that the accelerator on our 1995 E320 with the I6 engine has mechanical linkage that needs lubrication. So I would expect that vintage V8 automobile to have the same design. You also may want to check how smoothly the gas pedal linkage (above the pedal where it penetrates the firewall) operates, and lubricate it.

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Fred Hoelzle