Will the PTO not disengage or does it just always spin? I haven't seen a Ford tractor yet that the PTO didn't always spin but when resistance is placed against it it will stop. I will say you can grab it and it will stop but the safety police don't like that so take a 2x4 or 2x4, wedge it between the drawbar and shaft and place pressure against the spinning shaft and see if it stops, then engage the pto lever and see if it doesn't stop with pressure. If that test works out that way then leave it alone and use it. The drifting 3 point can be as simple as the nut on the quadrant holding it all together. Is the quadrant lever moving as well?