I rebuilt my steering box with the kit from StangersSite.com. I thought the rebuild parts were good quality, the instructions were great, and it was an easy job. I refinished similar to what Charles describes, although I chose not to do the blackout.
You should have a press and 0-30 in-lb torque wrench at your disposal for the rebuild job.
The best advice in the instructions was prior to disassembly, see if you can adjust the box to spec. If so, then you have a good candidate for rebuild. From memory, I think the spec for input shaft rotational torque was 5 in-lb at the ends and 10 in-lb in the center, but you should verify in your shop manual.
There is also some good stuff in the instructions with the stangerssite kit regarding inspection of the various components. Pay close attention to the condition of the sector shaft, rack block, and input shaft worm gear race.
http://www.stangerssite.com/HowItWorksSteeringBox.html