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When it comes to trucks everything between 1977 and 1987 is a low compression - low output smog motor, but that's mainly due to the heads and cam.. which can be changed pretty easily. If it's a 4bbl 351 from this era it's the 351HO and that's a good platform to build upon, swap on some better heads and a full exhaust system and 300hp isn't a problem. If it's a 302 you're gonna have to work a bit harder, it'll need a complete HCI combo to make decent power. In both cases the stock rotating assembly is more than capable of supporting this power level so nothing extra or even that special needed there, if you're rebuilding it just get it to stock spec for a late model engine('87+) to give it about 9-9.5:1 CR with most available cylinder heads.
I read somewhere that it was a roller cam? Is that true?
Roller cam didn't appear in truck engines until 1992, though all blocks cast from 1987 on(E7TE casting number) will accept the factory roller cam assembly even if the motor didn't originally come with a roller cam.
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