Im having a tough time here.

My 64 292/AT needs work. Im considering 3 options. 1. Rebuild what I have. 2. 302/C4 3. 350/TH350

292: It runs ok, smokes a little on startup, idles ok, no oil/water leaks, the paint on the intake on the left side middle runners is burned off, thats telling me those cylinders are running hot. No power at all.

Im guessing: Due to modern head gaskets Im at 7.5:1 compression, crossover single exhaust, timing? carb? 3.10 rear gear.

Tranny: Shifts ok, leaks like Wikileaks. I have to fill it everytime I drive it. This tranny cools through the engine block. The hard piping runs over the right valve cover, I have to drain the radiator anytime I have to remove the valve cover. PITA

Rear end: Tag says 3.10, center section leaks, brakes are A1.

How much will it cost me to make any power out of this engine? I can see doing cam/intake/dizzy/milling the heads/exhaust. If any block work is needed, Im not going to do it. If the tranny work is more than $1000 Im not going to do it.

From a cost perspective a I can do a new 350/TH350 for less than 5k. The 302/C4 will cost me at least 7k.

Everyone says to drop in the 302/351 and a C4/AOD but its been 20+ years since Ford built these engines while there are still new 350/TH350s being built.

I want a solid DD that I can hop in anytime, turn the key and it starts. I also want low maintenance. I own 6 vehicles that are on the road and I want to enjoy driving them, not work on them.

Thoughts?

 

It's normal for Y blocks to burn the paint off the crossover ports on the intake, not a cause for concern. Some people block off the ports but then lose the carb heat in cold weather.

I'd run a compression test and a vacuum gauge test, if the motor is in good shape mechanically - rings and valves, there's no reason not to run it unless you really want to spend the money. Y blocks need a good bit of ignition advance to wake them up. A stock distributor curve will be anemic. I'm running 17° initial on my Y block now and it runs great, and sounds even better w/dual exhaust and porter steel-pacs. Have to limit the mechanical advance inside the distributor to do this, of course.

 

So your engine and trans is like 52 years old, I bet you leak too.
why would you go to a gm product?
In it's day the Y Block was a sound engine, between 1955 and 59, won more
NASCAR races the Chevy FYI.
yes rebuilding a Y block is a little costly, depends on what car\truck it's in
and what you want to do with it.
I'd pull the motor, and put a 351 W in its place with a C4, crates start at around
$3000, and go up, C4 are about $1000 can take up to 500hp
To many years car guys have bought this notion that Chevy motors are
some way better then a Ford. Look at Fords engineering, Flathead, first small
block (Y block), First Big Block (FE) W series 289 - 351W, Cleveland
best breathing engine and the 385 series.
And FYI in most cases Ford engines are lighter then Gm\Chevy engines
"small block Chevy (60's 70's) 575lb Ford 351W 510lb. from gomog.com
anyway stick with a Ford product, how about a nice DOHC, 6spd auto and 500HP

 

Im not interested in a Chevy vs Ford war.

Chevy still sells brand new 350s. Ford hasnt made a 302/351 in 20 years. Its not about what is better, its about what is available, and what it costs.

I search CL daily looking for a suitable donor to yank the drivetrain out of.

First thing Im going to do is stop the leak in the rear end. If I can find a 3.25 center section Im going to put that in. My speedo is off 17 mph, to much to correct with a driven gar change. I suspect that this truck had a much steeper gear when new. According to ND, no F100 ever had a 3.10 gear.

 

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Economics is part of the decision process when working on old iron.

 

If you don't want to do any block work, then the first thing to do is a compression test and leak down test to try to figure out why it is smoking. If it is something that requires block work, then your decision has been made easier.

As to the cost to get "any power out of" it. Prices are approximations, only pricing y block specific items. All of this can be found cheaper if you are patient, check eBay, Craigslist, swap meets, etc.
To get more power than the stock configuration, with only bolt-ons will require one or more of the following:

Dual exhaust, $200-$500 plus a trip to the exhaust shop
4 barrell intake, $250 to $500 plus the carb of your choice
Rebuild distributor and have it tuned, $100 to $250.
Better heads, $1000 to $1200, figuring in the cost of the heads plus rebuild parts and labor.
Cam, lifters, pushrods about $500. If you don't want to do block work, then you probably don't want to change a cam on a Y.
An alternative to a cam is aftermarket 1.6:1 ratio rocker arms. They will provide about a .050" increase in lift over factory low ratio rockers, 1.43:1, which you most likely have. The problem with this is they cost more than a cam swap. Dove, Harland Sharp, and Rockerarms.com are 3 manufacturers of these. I've used Dove and Harland sharp. The Doves were nothing but problems for me, adjuster screws wearing prematurely, rocker arms breaking. I have not had any of these issues since installing the Harland Sharp rockers. Factory style high ratio, 1.54:1, rocker arms are reproduced which are much cheaper and will provide about half the lift increase of 1.6:1

As far as the solid DD and other criteria, I drive mine daily. It starts on a bump of the starter. I don't even use the choke on the coldest days in the winter. Nothing other than regular maintenance, that which any other engine needs, is required.
A Y-Block is as reliable as any popular engine. A Y-Block can be just as unreliable as any other engine when it is worn out.

 

Thoughts on this dizzy?

Ford Y Block Hei Distributor Red Plug Wires 1954 1964 239 256 272 292 312 New | eBay

My exhaust guy owes me some labor, so Im only in that for parts.

I found a pretty decent Granada for $1200 with a 302/C4. I can make some of that back selling the discs and rear end to the Mustang guys.

I havent seen y parts for sale around here in a long time.

Im getting the tranny looked at for a reseal. It runs fine, just leaks.

 

That distributor is a no name, Chinese copy of an MSD. I wouldn't want to rely on it.

 

Guy sold the Granada for $600. I missed it by a few hours. I would have give him the $1200 asking price. One owner 97k. Dont run across those very often.