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You have a perfectly good chassis, but threw a rod and thrashed the motor case. Most of the aficionado I knew in Bakersfield would consider a new block cheap even at those prices because motors were hard to come by. some that I saw had welded patches and other external signs of repair. Not unusual to overbore and use sleeves or spraymetal/weld the crankshaft bearings
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casual notes from the underground:There are some "experts" out there that in reality don't have a clue as to what they are doing.
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