460 questions
78 f150 Scab 4x4 4spd
gonna have 38" tires with 6" lift, gears are 3.50
gonna be a daily driver/hauler/mudder I just want to enjoy it!
D1VE block and D3VE heads
Engine was rebuilt 44,000 miles ago (guy gave me the receipts) but that was also 10 years ago, it's been parked due to gas mileage vs. his new car/suv.
Engine was covered in oil, telling me there is a leak, but I can't find it, guessing valve covers. I pulled it all apart tonight and this is what I found:
oil between carb and spacer
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pretty clean inside, no sludge/etc
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Now, I didn't get to drive it enough to notice any issues, but I ran it quite a bit in the yard and never saw anything, barely a little smoke out the pipe at startup, but non after and no getting hot.
Why would oil be between the carb and spacer?
What do I do next? Should I go ahead and pull the heads/replace headgaskets or leave them be? I hate to pull them apart when the seal is good, but also hate the thought of doing it again later.
Based on what I want my truck to be when done, what would be a good cam/lifter selection for me? I don't want to do any engine work other than cam/lifters and new seals/gaskets where needed. I don't need a huge engine right now, just wanna drive it.
Anything in particular that I should look for while it's open? I'm gonna clean it all as much as I can before I put it back together, then paint it.
Thanks for any input.
I didn't even think of the pcv, I just checked it and it rattles, but is covered with oil so it's either wore out or the gasket around it is.*ALSO, the breather/oil cap wobles like mad, nothing holding it in. Bet that's a big part of my oily engine problem as well. Easy fixes FTW.

I'll check into that cam, do I want to replace the lifters too or should they be good to go?
Here is the spacer:
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