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1961 pre-dates the 1968 Emissions Laws, so is "grandfathered" I would assume, although California is making noises about that issue.
My choices (in descending order) would be:
1) small turbo diesel -- but do you want to buy diesel?
2) Toyota "hemi" -- strong engine, but not 100% economical
3) 1600 Pinto engine -- obsoleted years ago.
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