I took my proportioning valve apart because the rear drum brakes were locking up before the front discs. After cleaning all the rusty looking sediment off the internals, and brushing the inside of the housing with a brass shotgun brush, the brakes are much more reliable. Still not sure how it actually functions, but it does. I did notice that the rubber boot on the shaft seemed to fit loosely but it looks like it was made that way. Also, the disassembly went more smoothly when I clamped the big nut in the vise and turned the valve housing with a big Crescent wrench. Since I had not been able to find a photo of the internals on this site, I thought someone else might like to know what is inside.