Tons of threads on this - search first. Also, read the freebie FSM available on Mud.
Nominally, the 'bead' on the KDC should be 1/8" from the adjuster. But, adjust it around a bit and see how it affect shifting. You should notice a significant difference at each end of the range of adjustment.
Thanks for the quick reply. I've attempted to adjust the cable per the FSM. After I depress the accelerator pedal and let it go, a large amount of slack remains in the cable. Almost as if the cable has been stretched or is loose on the other end. With only 75K original miles, I can't believe it's anything complicated.
I would remove the cable at the transmission to see if cable is sticking or dragging in the sheath. If so, I would dribble some silicone spray (nothing more viscous than that) down the cable from the top, to see if you can free up the cable. Obviously, it's supposed to move smoothly.
Tapped out and took the LC to a highly recommended local tranny shop. Turns out the TV cable was broken off inside the valve body. 1 cable, gasket and some transmission fluid later and she's shifting like a champ. Thanks for all of your help you guys.