Hey guy, got a long story on this so bear with me. I got this truck about 10 years ago for $1. Yes thats right $1. Guy I worked for wanted it gone when he sold his house. He was seasonal and didn't run it much. The only problem was it smoked like crazy when you first started it, when it had been sitting for awhile. I didn't mind that much as I just used it as my light duty work truck. I used it for 4-5 years probably, and never had much trouble with it. It was a great little truck! Had a couple fuel, maybe carb related issues, but mostly they worked themselves out. But then in a few weeks time it just started running like crap. Could barely get it even started, and had to hold the throttle wo to do so. I thought it was a carb problem and didn't wanna mess with that stock carb and all those vacuum lines. I had 2 other running trucks so I just parked it.
Now I wanna put it back to work again. Currently it has 161000 miles. So last fall I started researching. Found out the smoking was most likely the valve seals, and learned about the weber carbs and got one. I was lurking around here and the truckin forum learning about those. Got the Haynes manual and started studying and seeing what I would need. Got a timing belt kit with water pump, along with a valve seal kit, and some miscellaneous gaskets. I didn't really get much done with it over the winter, as I had other things to do, and I hate mechaniking when its cold.
So I started back on it here recently. After thinking about it most the winter, I decided I better do a compression test before I get any farther. Since I have to take off so much to do the valve seals, better make sure its all good before it goes back together. I like to fix things right the first time, and I want this truck to last many years after I'm done. So the first 2 cylinders were good ~145psi, #3 50psi, and #4 120psi. So that was not so good. I worked on it off and on, and as of yesterday, I have the block on an engine stand and all thats left in/on it are the pistons and crank. So far the only thing I've found that was bad was the key and keyway on the front of the crank for the timing gear. It's boogered up pretty good. Not sure if its something that could be welded or not. Haven't paid much attention to the cylinders yet, but I could still see some hone marks in them. Also the #3 cylinder's head was alot blacker that the others. The bore measured 85.85mm at the top with my cheap digi calipers, so I'm guessing its stock.
So, just looking for some experienced advice with this guy. What should I look for, what should I go ahead and replace? I am a decent home mechanic, always worked on my own vehicles, unless it was something major or something I just didn't wanna do. This is only the second time I've ever pulled a motor, and first time ever tearing one down. I looked around online and couldn't find new motors anywhere, rebuilt ones were like $2k, and I don't wanna used one. So I'm kinda stuck with getting this one up and going. I do have a good mechanic friend who is about to swap one of these motors with a v-6 and will prob let me get the old one cheap, but again I don't want used. If I've got it this far, I'm putting as much new as I can afford back in it. Which I can't really afford much, but a little at a time I'll get it. Here's a couple pics