Fix what you have. Rings, hone cylinders, replace valve guides and seals (A full valve job) and bearings. Couple hundred in parts, maybe $200 in the head labor. Hoping the crank doesn't need machining due to bearing journal imperfections. You can do all of it without pulling the engine if you have room to drop the oil pan. Much more than that will get you close to the crate engine price range.
Oil burning: running the engine in park does not tell much. Have someone drive behind it and make note of when it smokes.
1. Smoking under heavy throttle while accelerating, continuously smoking = piston rings.
2. NOT smoking continuously under long acceleration, but puffing out a cloud of smoke after sitting at idle waiting for lights to turn green, just as you start giving it gas = intake valve stem seals and guides passing too much oil through
3. black smoke = too much fuel.
Last edited by 70Nova; 09/22/15 12:05 AM.
