Thanks for the replies everyone. This was my daily driver, so from the sound of it I should cancel my insurance, as its looking like I wont be driving it any time soon. I googled pics of a burnt exhaust valve to see what it looks like, daaayyyyuuuummm.
Im still hoping and praying its just a valve.
If it turns out to be rings, that's pretty much a rebuild, right? would it be possible just to hone and re-ring it? or will I need to bore it and replace the pistons too?
im just wondering about the price of the parts and what parts I should be looking for. Tlowe has an awesome selection of parts, but im not making enough power or money to justify, but man, do I want em! Im thinking inexpensive, but not stock. like the shallow dish propane pistons, and a nice cam just to get her back on the road. thats about the 6-800 range for parts and about the same for labor and assembly.
I work as a cashier at a kroger and my checks basically cover the cost of school and gas to get there and back, so doing a full rebuild would take a lot of money and probably a couple of months, but its not totally off the table.
I do have a spare engine thats been sitting in the 67 for a few years. It ran fine when I bought it, compression test was ok, thats the only reason I bought it. I had taken the head off it and its been sitting outside and although its been covered by the hood, so it's not totally exposed to the elements, I expect some surface rust.
I am heavily debating cost/benefit ratio of pulling the engine from the 67 and making it ready for duty. I've no clue how to handle an engine that's been sitting for a long time except to use lots of oil on everything before doing anything. What are the things I should do, or shouldn't I do to the engine that's been sitting for like 6 years?
thanks again for taking the time to read this.