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Hey, lets throw you a curve...you could always dump that 351/400M series motor and do a Turbo Diesel swap. The Mercedes OM617 5cyl is an awesome swap as well as the 4BT Cummings. Dunno what you have available down under....but there are a lot of swaps like that here in the states that are netting excellent fuel mileage and great pulling/hauling power! just a thought..
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Thats actually high on my list of possibilities, now that im not driving it anymore i dont have to worry about getting it back together the next day so an engine swap is a possibility, either some kind of diesel (havnt looked what is available yet) or a late model fuel injected V8, with matching 5 or 6 speed gearbox
In other news my mileage has gone wayyyy up... depending how much i pedal i should be getting a minimum of 150mpg :P
still waiting on a few parts to get the motor running (7 speed shift kit ftw!) but im enjoying getting fit again