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I have an 89 F150 with a 302. Mileage at 100,000. Appears the #2 cylinder has a burnt valve. Compression about 30psi while others are ~180psi. Plug from #2 cylinder had center electrode burnt away with lots of burnt oil. #8 cylinder spark plug also had some oil on it and the gap was bridged With a burnt valve and 100,000 miles I looking for suggestions on rebuilding or replacing with a crate engine. Appreciate any and all comments.
You may have a broken ring on that cylinder. The oil on the valve tends to make me think that may be the problem. Squirt some oil in (about a teaspoonful) and see if the compression comes up. If it does, it's rings. If not, it's a valve. 180 on those other cylinders is great, especially for an older engine. If it is just a valve you could do a valve job and get many more miles out of it.
Rebuild vs. crate engine...depends a lot on your time frame and budget. These days, crate engines are almost all higher performance engines, you'd need to make sure you got one suitable for installation in a truck. It (or a long block) would be the quicker way to go but you may have to make some compromises since they generally come set up a certain way, which may not be exactly what you want.
Rebuilding your current engine gives you more flexibility to set it up exactly the way you want, but at the cost of more downtime while it's going through the machining and building process.
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