I really appreciate the willingness everyone has to try and help a novice like me.

Here's an update. FYI, this is the third time I've eaten Humble Pie this month. Not very fun.
My 1971 250ci engine is pretty on the outside and junk on the inside. I added ATF to the oil and drove it maybe 40 miles. I saw the oil pressure light flicker once or twice at really low RPMs and that made me wonder if some gunk had blocked the oil pressure sensor.

I added a quart of kerosene to the oil and idled the engine in the yard at 1500 RPMs for 14 minutes. Drained everything while hot and changed the filter and replaced the oil pressure sensor with a new one. Oil came out dark brown but no chunks. (That was no surprise because I had removed all the gunk from the oil pan, timing cover, rocker cover and then changed all the seals 2 years ago.)

Added straight 40 weight oil to the engine in hopes that the thicker oil would reduce how much oil it was burning. Took the wife for a drive to the lake that evening and noticed the oil pressure light would flicker when at idle at the light - 800 RPMs. Light would go out immediately once I started driving. No funny noises from the engine. Checked oil level and it's all fine.

Tonight I got out my new Stewart Warner electric pressure gauge. You better read this sitting down. Operating temperature pressure is 10 at idle of 800 RPMs and never goes over 20 when driving. Stays at 20 with RPMs 2000 - 2500 and will drop to 15 if RPMs drop to 1500.

I have never rebuilt an engine. Working on this truck has been a real education and very humbling.

I really like the idea of keeping an inline 6 cylinder because you don't see that many these days. Other reasons are purely financial. The pros for installing another 250ci are many.
Keep the same (new) wiring under the hood.
Keep the brand new exhaust.
Keep the same radiator and (new) hoses
Keep the same new HEI dizzy & wires

I've already checked some prices. Crate 250ci with 3 year unlimited mileage is $1500-$1600 and I give them mine as a core.
Local shop wants similar money but only 12 months warranty.

I have an engine stand and a garage to work in this winter.

Let's hear what you think.

Last edited by Lugnutz; 09/21/15 10:40 PM.