I'm new to this so I am probably asking the same old question. Now lets start with some details. It is a 1973 f100 2wd and has a 302 that is original and a 4 on the floor that is from ( I think) a '78. The previous owner just put a Holley 2 barrel on it and also changed the ignition from points to electronic. There is about 90000miles on it and a bad ticking from the valves. This is where I need the help. I want to:
1: rebuild the motor and install some performance parts like aluminum heads and likely a cam and intake/4 barrel carb.

2: Or the other option is I have a rusted out 1989 f150 with a 5.0 efi and auto trans. The motor on this truck has about 50000 miles.
Which way should I go??

Either way I would like to use the auto trans. What I am looking for is a truck that is drivable but also fun to drive. Like something that has a little get up and go.

Anyone's opinion would be great!!

 

I've read so much about the 302 lately I have a bit of an overload, but IIRC your 73 should have better compression than the 89 but if you plan to rebuild either will work the 89 isn't a roller motor as far as I know. So you could build the 89 motor while driving the truck. I think 75 they dropped the compression in the 302. Again might want to research this to be sure. The heads on the 73 should be the 58cc heads. I just pulled the stockers off my 74 and they were d20oe heads=58cc. I ended up getting a set of fresh from the machine shop gt40p heads that I just finished running the valve train on in the dark. Just gotta change the oil and put the valve covers on and shes ready to go.
Cheap way to go(as if anything is cheap) have heads referb'd and steal/swap the auto trans over to the 73. Or another idea swap heads from the 89 to the 73. IDK just thinking out loud mostly
Oh and welcome

 

Thanks blue04.5. What exactly do the gt40p heads give you. I have read a little on them. They were off an explorer right? What about just buying new heads. Trick flow has sets on summit for around $600 and they are new as rather than used heads. Likely going to cost a few hundred at a wrecker for gt40p heads. I'm kinda leaning toward just a rebuild because of my lack if time and space to to a whole swap. I would be sending the original 302 out to get rebuilt also because I have never done one.

 

Yes found on explorers and have four bars cast on the ends of the heads to I.D.

Trick flows are $600 a piece, good heads from what I've read. If you have the money to play I say go for it. Don't forget the pictures!

If I had the money I would have went AFR 165 heads. Of course if I had the money I would probably have gone with a 408 stroker with AFR 185 or 205 heads. The gt40p's from what I read are about 40'ish HP bump over stock heads, IIRC I've seen claims of close to 60hp, but you cant believe everything on the net lol. The ones I found fit my budget and were fresh out of the machine shop with upgraded springs and freshened valves. They were also milled 20 thousandths to bump compression a little from their stock form.
Also almost every post I read about P heads complained about sparkplug wires contacting the headers, I had to put a 90 degree boot on the #5 cylinder the other 7 cylinders have the stock straight plug wires on them with more clearance than the stock heads. Maybe I was lucky.
Another thing to mention I was able to re-use the stock pushrods, mine measured 6.875in, and took the thin shim in the ford racing pedestal shim kit to bring them all to torque in just shy of 3/4 of a turn for all valves.