When I had a lot of play in my steering it turned out that the rubber rag joint in the factory steering shaft was giving out. You might want to check it on yours - you'll have to have someone under the car and someone behind the wheel to see if that's where your problem is. I replaced mine with a Borgesen shaft with steel needle-bearing U-joints.
Another thing that could cause excessive play is a damaged or worn steering rack.
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Strike down the unroadworthy!
2000 GT Atl. Blue: '03 Cobra motor - 465rwhp/473rwtq, T-56 6-speed, full MM TA/PH & tubular K-member suspension, Saleen body, 17" Torq-Thrust II's, M/T ET Street radials, and lots more
'94 Rio Red Cobra: All the bolt-ons, 3.73s
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