The $40 kit on ebay (search for "FORD Clutch Rod End PERMANENT Repair powerstroke") is a heim joint, a bolt (SHCS), a nut, and a lock washer. The Heim joint has had the threads drilled out, and it looks like the lenght has been cut down some. It has also had a set screw installed to hold it onto the push rod since the threads have been removed.
The process goes like this. Cut the eyelet off of the push rod off so that the new heim joint will slip over what's left of the shaft. Remove the arm that has the pivot pin. This can be difficult as the bolt that attaches it is splined. Its a good idea to mark the position some how so that when you put it back together, it goes back on the splined bolt in the same position. Once the bracket it off, grind the head off of the pivot pin. The pivot pin is splined also, and it's welded on the back side only. Once the weld has been ground off, the pivot can be knocked out with a hammer and punch. The included bolt goes back into the arm and serves as the new pivot pin. Its a tight fit, and it will likely need to be screwed into place even though there are no threads (the splines on the original pivot pin swaged the ID of the hole causing interference with the new bolt). Re-install the arm onto it's splined bolt makeing sure to assemble it in the same position that it came off. Not getting this correct will cause problems with getting the clutch to disengauge. Slide the Heim joint onto the remaining push rod shaft. Snug the set screw to hold it onto the push rod. Slip the heim joint over the new bolt, and secure it with the nut and lock washer. Make sure that the clutch pedal is in its fully raised position, and the push rod is all the way out before fully tightening the set screw and the nut/lock washer.
There's a decent video of the process here:
http://powerstrokehelp.com/PSD_common/clutch_pedal/1of1.asp
I just need to figure out what size bolt is needed to serve as the pivot pin, and what the diameter is on the push rod. I'm always a little leary of a set screw staying put on a round shaft, so once I have it adjusted correctly, I will likely mark where the heim joint is on the shaft of the push rod, disassemble, and then use some loc-tite, JB weld, or something when it goes back together to make sure it all stays put. Also, I probably won't use a set screw. I'll probably tap it for a 10-32 and use a grade 8 SHCS so that I can put a big enough allen wrench on it to get it to stay put for a few days while I make sure everything is adjusted where I want it. If I'm going to make a few mods to the unit, I don't see any reason to pay $40 when I can buy the parts for less than $10 and do the mods myself.