I just picked up an 87 k5 blazer. It has a 5.0 with a replacement 700r trains and 4.52 gears. During normal intown driving, I'm getting quite a bitof wiggle in the steering on any bump. Also, I'm getting a bit of what feels like grinding when I get to 50 or above MPH but only when I let off the Excelerator. Any ideas?
If you have any type of lift kit or large wheels for off road then I would lean towards the front suspension stabilizer shock. This keeps wheel vibration down. I would also check the front wheel bearings, that might be where the grinding is coming from.