I'd really like some input from some others on my engine choice for my 1970 f250 4x2 (future 4x4...have highboy frame, I'm thinking I want to do the engine first). My number one priority for the engine is reliability. The rest of the truck has been very very solid and reliable. Seems like I'm working on the engine 95% of the time though...but I did pull the thing out of a field about a year ago so what should I expect hah. I'd really like to keep the fe series engine but what I want to do to it might not be the best way.

390 build plan:
-find 390 on Craigslist (so I can still have the truck for work around the property while doing the rebuild)
-390 needs to have hardened seats (what years?)
-RV cam
-Good lower end parts
-87 octane build (nothing crazy compression wise)
-long tube headers
-hi tourque mini starter
-fel pro
-etc.
-edelbrock 4bbl intake (the low rpm one)

...and here's the kicker
-efi, I'm thinking Holley Right now
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http://www.jegs.com/i/Holley/510/550-511K/10002/-1?CAWELAID=230006180004729120&CAGPSPN=pla&CAAGID=1 5769068431&CATCI=aud-194567928791la-208407111671&gclid=Cj0KEQiAzNfDBRD2xKrO4pSnnOkBEiQ AbzzeQamWhrTv3iC11a35ll85vDNgQ4iL9lDaBa9OJHhiYdIaA ioS8P8HAQ
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I'd like to keep the fe engine because I've heard they can be reliable and due to the fact that it is what the truck was made with. However, are my expectations realistic with this engine? I've though about an ls swap but this seems simpler (probably more expensive but again, main goal is reliability). I'd also really like fuel injection.
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Come on over to the FE forum, and we'll help you out

But a few answers to your questions first:

1972 was the first year for heads (D2TE casting number) that had factory hardened exhaust valve seats - HOWEVER - they are no longer hardened because they've been beaten to death by the valves. So you'll need to install hardened valve seats.

Your expectations are realistic for an FE - a budget build is possible, and even a basic stock 390 will do quite well. Get a good set of starter heads, get exhaust valve seats put in 'em, maybe some valve guides, and rebuild the rest of the engine to stock. Pick a decent RV cam, and you're good to go. You'll save money overall because you won't need to spend $'s on converting to something else.

One question though, what engine mount stands are on the highboy chassis?

And remember, go to the FE forum to ask about all this...