I was changing the engine oil and filter for the first time on my 57 F600 which according to the VIN had a 272 in it and discovered some one put a reman 292 in it in the early 70's according to a little tag riveted to the engine block. Is there much difference between a 292 and a 272? Is one more preferable over the other? The engine runs really well but the block is certainly oily - I'm guessing some of the gaskets dried up over time and a leaking a bit.

 

Bigger is better.

Later 292s had a correction of the oiling problems found in earlier y motors.

That your motor runs well says it does not have the oiling problem.