Did you remove the Pitman Arm originally to install the new steering system?
If not, then, the Pitman Arm, steering wheel, and box, should all be in sync and correct. No need, and no good reason to remove the steering wheel and re-orient it. Do you want the steering wheel and steering box centered to each other. As mentioned above, that is the first and foremost point of reference.
Turning the drag link to recenter the steering wheel and box is the correct method.
In fact, it is the only reason for the existence of the adjusting sleeve on the drag link in the first place.
if you did remove the Pitman Arm, or if it’s a non-stock Pitman Arm, or you did not do the work yourself, then you should disconnect the steering link, then verify that the box is centered.
If the box is centered with the steering wheel straight ahead, proceed to reattach the linkage.
If it is not centered on the box, then, and only then, do you have a reason to remove the steering wheel to re-orient it.
With the steering wheel and box centered, verify that the Pitman Arm is pointing straight back along the frame.
If not, remove and re-orient it.
Early models, specifically 73 and maybe 74, were offset slightly to the driver side. About one spline, or 10°.
Later, Ford chose to change that orientation to straight back. Either works, but your 76 is most likely straight back.
Then reattach the steering linkage in the correct position.
If the adjusting sleeve on the drag link needs to be used to correct the length on the drag link to be able to insert it into the Pitman Arm in this position, adjust the drag link the appropriate amount.
Button everything up, and go for a drive.
If the steering wheel is still slightly off, readjust the drag link as needed.
Again, that’s what it’s for.