Thanks for the replies, guys. I was not aware of the Red Power Magazine forum and have re-posted this question there. Thanks!
Some additional information: The fluid is overflowing from the reservoir tank. There are several supply and one return line to/from the reservoir. The rubber return line has been replaced along with all of the rubber pressure supply lines and the various o-rings at the connections. The o-rings were replaced from IH-dealer provided rings specified for this machine (same hardness rating). The only hydraulic filter my manuals show is inside the reservoir tank. I replaced this filter as part of the major parts replacement project that I referenced in my initial post. I have the ops, service, and parts manuals. They don’t show anything hydraulics-plumbing related (other than the metal high-pressure supply lines) that I have not replaced.
The only vent that I am aware of is this one that is overflowing. I can tell you that when the fluid starts coming out, it does so as a result of pressurization of the reservoir tank. When it happens, it will go for 15 – 20 seconds before stopping; about a ½ to a full quart of fluid is lost each time. If I remove the hydraulic filler cap during one of these sessions, the overflow immediately stops. Basically, removing the filler cap allows the tank to de-pressurize (the filler cap makes a popping noise when it comes off, a lot like opening a bottle of champagne. This noise is NOT heard when the unit is not having an overflow). Air can be heard escaping the breather when I lower the loader slowly. The air changes to fluid when I lower the loader more quickly.
It should be a zero-pressure system. The breather is supposed to keep it that way. I did note that when the unit is on a level surface, powered off, and the hydraulic level is to the “full” line on the dipstick, the oil level is barely under (like an inch or less) the bottom edge of the breather (noted this as a result of taking off the breather, exposing the 3/8” tank opening).
“For the fluid to overflow, it obviously is not returning to the pump correctly, either from a plugged vent or a clogged pickup return filter, etc.”
While writing this, I re-read Norm’s comment about the possibility of something being plugged. I have never heard of such a thing, but is it possible that my metal supply line leaving the hydraulic tank and feeding the loader hydraulic pump is partially plugged (likely from inadequate hydraulic filter change intervals by the prior owner) and that when I lower my bucket too fast, so much extra hydraulic fluid is attempting to re-enter my tank at once (after all, the return line is somewhere around 1 1/8” and each of my two hydraulic loader cylinders are three inch diameter or so) that the supply line cannot keep up with getting the fluid back to the hydraulic loader pump in time to prevent the tank from overfilling and pressurizing, thus forcing the fluid the only place it can go (the breather vent) and causing my pump to be forced to run dry? Is that what you meant, Norm?
Are there typically vents/screens inside the hydraulic pumps or anywhere else on the supply side? My manuals don't show any, but I suppose it's possible that they do exist and one or more of them is plugged. One of the drive pumps had been replaced by the prior owner. The other two pumps are original (there is a pump for the left wheels, the right wheels, and the loader). No clue on the service history outside of that. Maybe a good course of action would be drain the hydraulic tank (oh joy), remove the supply line feeding the loader hydraulic pump, and check it for a blockage. If I don't find one, perhaps the next step would be to remove the loader hydraulic pump and inspect it for a clogged input screen (possibly by taking it apart – more joy). If that isn't it, I’m not terribly sure what is left. Note that starting and stopping suddenly does NOT cause this problem, nor does spinning the skid steer full left or full right and then coming to a quick halt (this leading me to believe that the supply blockage, if that is what the problem is, is not an issue for either of the hydraulic drive pumps).
Any other thoughts before I spend ANOTHER 20 hours or more on this? Am I likely on the right track (if so, a HUGE thank you to Norm for the idea)?
Ed