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The black, sooty exhaust means that you're running way too rich, and wet gas on the spark plugs just confirms that. Your choke may not be opening properly once the engine is started, but those compression figures are way low, indicating you may have bigger problems than carburetion.
If you can keep the engine running at or near idle, hook up a vacuum gauge to the intake manifold... a bouncy needle would indicate compression loss due to valve problems. If the needle is steady, that would indicate compression loss due to ring problems.
Are you sure the plug wires you changed are in the correct location? Just because the distributor cap says it's #1, doesn't always make it so...
It really sounds like the wires are one off.
Does't splain the low compression tho...
Hey guys, I think the engine is ready for overhaul. I'm planning to keep the stock FE engine in there but I'd like to build it for higher performance (I know you can't get a whole hell of a lot out of these FE's) but being as though there's a clutch, I'd like to swap back to a manual trans. Preferably a racing trans. And do the basic cam swap, pistons, rings, etc. and I'll probably go the extra .052 to 410 if I can. Any thoughts on transmissions?
First lessen: FE 101:
Open up the exhaust. The stock exhaust is very restrictive. You can
build an awesome 410 with all the bells and whistles. But if she can't
breath she will always be a dog. Think of it as an air compressor. If
the air can't exit the amount going in it will not preform. I have used
large long tube headers and 3in open duel pipes on a mostly stock 352.
The difference was night and day. Of all the engines I have built the
FE would benefit the most doing this. Once that is done than open the
heads up. They do well stock but any help here reaps great rewards.
I suggest you do some research and read, read, read. Did I say that
I love me an FE? One of Fords best. It just needs to breathe. My son
said that is how to spell breathe and not breath. See Grasshopper even
the old man can learn something new. Just not every day anymore.
I have lived a very long and full life I have. I think. Son, how old am I?
Damn that's old.
Some blocks can go .060 over. I prefer .030 over to be on the safe side. When going over .030 I would have it sonic tested because of possible core shift in these blocks.
Be very careful when over boring a 352.
They Do Not have the meat in the bores
that a 360 or newer block has and can get
to thin very fast. I have seen where a .60
over bore was to much and she overheated.
If you want to build it up much at all than start
with a newer 360 or bigger block. I would never
go over .40 or so on a 352.
Some blocks can go .060 over. I prefer .030 over to be on the safe side. When going over .030 I would have it sonic tested because of possible core shift in these blocks.
Yes this is what I was trying to say I think. I like a man
of few words. I am told that I am not one of them.