Hiball, Follow up on my last post. I took the handle saddle off and upon closer inspection did find the nut, and what was left of a cotter pin! I also found two tack welds. One on top of the gear and one on the nut.
I took a file to the top one (between gear & shaft) and removed most of it. Then I put a wrench on the nut and that one broke free quite easily. From the fact the gear and nut had been tack welded for all these years, I kind of ruled out some sort of misalignment due to the handle gear (vice the release gear) moving down.
I took the entire assembly apart, cleaned it up and put it back together.
I took a file and dressed up each and every tooth on both the handle and release gear, which was probably overkill as none of them showed any wear or damage that might account for the jamming. Remember, this thing worked just fine (except for not staying up) since I had purchased it.
Then I turned to the release valve assembly to make sure it was seated fully and not held off by the valve itself, as you mentioned. I made double sure the valve itself was fully retracted, both copper rings and the steel washer (one with the square hole) properly seated. I also had the help of the green paint as I could see the valve assembly was fully seated as no unpainted threads were showing. I could also turn the release both directions, and when seated (full to the left...handle right) the jack moved up, and when turned the other way, retracted.
I then put the saddle back in place, but without the spring so I could more easily move it as I wanted to really check out the gears and how they meshed.
With the handle vertical there is no binding. As I lower the handle, when it get's to about 45 degrees (halfway between up and down) the binding starts. By the time it gets another 15 degrees lower, it jams completely. I went back and started a process of pulling up on the handle gear, rotating it one tooth, reengaging it and moving the handle down. I marked each tooth as I did this until I got through all of them. (about a beer's worth of time!)
Made no difference, still got the jamming at the same place (60 degrees down handle).
My next step is going to see if I can move one of the gears vertically to increase the clearance between them. The handle gear can be moved up by taking out the shaft and putting a washer under it. I'm not sure that will help as I really think it needs to be moved down, however that's not possible. The other possibility is to move the release up, by adding a second brass washer on top of the one in the base. It appears there is more than enough length on the valve shaft itself to allow for that.
The only other way to increase clearance is to "flatten out" the gear teeth on the release valve, but that's a last resort. Since the handle gear is flat, not much I can do there.
This thing really has me baffled and is becoming (a) a can of worms, and (b) a version of the "search for the holy grail" as now I have become determined to make it work as designed.
There is a possibility I have missed something simple, but I'll be damned if I can see it. No parts left over, worked just fine before I simply disassembled it, and there just aren't much places where it goes back together that a misalignment can take place.
Your thoughts?