You need to figure out if you're in Direct or TA before you decide anything.
If the tractor is in TA it will freewheel (coast) out of control going down hills. This is extremely dangerous because the brakes on these tractors aren't that great. Also the extreme speeds experienced by the components in the transmission when this happens can cause them to fly apart. The problem needs to be fixed.
If the tractor is in Direct, it will be okay to drive it as-is, basically forever.
The test is to take the tractor out and drive down a hill with it. Make sure you have good enough brakes to stop the tractor first. If it coasts you're in TA and need to fix the problem.
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Today's Featured Article - A Cautionary Tale - by Ian Minshull. In the early 1950s my father bought an Allis Chalmers B and I used it for all the row crop work with the mangolds and potatoes, rolling and the haymaking on our farm. The farm and the Allis were sold and I have spent a lifetime working on farms throughout the country. I promised myself that one day I would own an Allis. That time event
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