Brandon,
Now that we have scared you to death. Lets recap!
You have a nice aluminum intake.
You have an Edelbrock Carb. Carb number is on the front right hand corner. More than likely a part # 1406 600 CFM
You seem ok with headers.
You do not have a numbers match engine.
So I think you have a few choices. If the current block can clean up at .030 or .040 then it can be used. Have it sona rayed for core shift. Or throw in the corner and get a later model block that will support a roller cam. Standard bore condition. You can put your timing cover on and retain the stock water pump.
Rotating assembly. Key to future fun. Stock crank and rods are ok to about 350/375 rear wheel horse power. I would go with hyperkinetic or forged pistons. Now you can stroke either block to 363 cubic inches. These kits will come with premium connecting rods and crank. A step up the ole wallet. But then you have a great foundation for up to 500 hp before you break you block in half. David Thanes has personal experience.
Heads. To go much over 300 hp with your engine you need better heads. You can port stock iron heads or go to aftermarket aluminum. Either work great. Aluminum can help you with a step up in compression. Yes, you can run a 10 to 1 motor on today’s pump gas. All about tuning.
If you have a known trusted engine builder, he can build this for you. Cam to meet your desired HP. The newer blocks are cheaper for a hydraulic roller cam installation and there is a great selection. We can discuss engine dampers and flywheels later.
Or you can buy a complete motor from Ford or other trusted sources with a warranty. The beauty of a strong foundation is you can use your carb and intake and upgrade later for more power. Just has to be tuned properly. Use you 4 speed for now. Upgrade to a five speed later as a bolt on. Slap on EFI, 8 stack injection, nitrous, or a blower. Or just a dual quad.
Or as stated earlier you can get somewhere in between for less money. You get to choose!!
Rob
Alright I finally heard back from my mechanic buddy and of course all of your guy's great posts - now - as if I wasn't confused with so many great options, I have a few more to weight.
He ran down a list of parts he would recommend replacing during the conversion. He changed his tune on the 1991 5.0 and advised me to start with the crate Ford Racing Motor (orginally proposed by Mosesatm). The list of things he wanted to change was so long and seemed pricey, and by the end of it my head was spinning a little bit. His estimate to do it right --> around $8K (more based on my math). And at that token there's ways to do it even better, which would run the price up from there. And it would now be a restomod, which may or may not hurt the value and whatnot (jury's out). So, instead of opening a can of worms and blowing a hole in my bank account, I think I might try to repair the old block and try a mix-and-match method suggested by Rob. But regardless, here are my options.
Option # 1 - approx $8k he says - Restomod
(all prices are approximate numbers jotted down while on the phone)
Buy a ford crate engine 306 approx -$3,800 + tax
Intake/Carb - Edelbrock $300 OR Holley $600+ fuel line conversion?
Edelbrock Performance RPM Air Gap - $190
Aluminum Water Pump - $149
High Output alternator - $340
Pulleys / Accessories - $200
Transmission rebuilt T-5 Bell Housing Fork - $950
Clutch - Luke - $400
Conversion Parts and clutch cable etc. - $500
Performance starter - $200
Modify Drive shaft Yokes U-Joints - $175
MSD Ignition - $550 Something about a box makes this worthwhile?
Headers Hookers - $300
New Exhaust Flowmasters - $450
Aluminum Radiator - $400
Miscellaneous parts - $200
Labor & Installation $1,500
With my math roughly - $10-11K. IMO not worth it based on my net worth.
Option #2 - Repair Current Engine Headgaskets & Tune up - $900
Valve Job
Resurface Headers
head gaskets
intake gasket
oil filter
spark plugs
carb gasket
fluids, oils, etc.
Good price? Gamble? More problems in a few months/weeks?
Option #3 Rebuilt entire current engine - $2,100
Rebuilt top half and bottom half. Engine smoking for about a year leading up to the fateful day the head gaskets blew got me worrying, and I think it might need a rebuild.
Option #4 - Rebuild current engine and add headers maybe even exhaust - $2,100 + $300 headers + $450 exhaust = $2,850
This option will increase horsepower by 25 hp and torque by about 20
Ok with these options, what do you guys think is best? I would now be leaning toward the Options 2-4 since I would get to keep the more original look and not break my bank at the moment.
Secondly, does anybody know who does good work in Southern California that could possibly have better ideas?