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I have an '88 F-150 with a stock 302 w/ 5spd. 215,000 miles. it was bought with 130,000 miles and the engine was strong. My Dad had it for a number of years and I just got it back. It definitely does not run like it used to. Symptoms are: valves ping under load; less power, especially under load at 1500-2000 rpm. Engine needs to be around 2000 rpm or higher to cruise smoothly - it used to run perfectly smooth at lower revs. almost impossible to accelerate under 2000 rpm - engine really struggles. is there a typical life expectancy for a 302? it's not a work truck, never abused.
I'm assuming these are signs of a worn engine. any feedback is appreciated.
engine also revs slightly during shifts after taking foot off gas. had it into a Ford dealer once and they couldn't fine anything. maybe I shouldn't say it revs - RPM on tach drops as normal during each shift, but it sounds like its revving.
You might pull the codes to see if any problems show up and try a good general tune up before thinking about changing the engine. Your engine has lots of miles but some go much longer. My '93 has 320,000 miles and has just now started knocking. Up until now it was excellent. You don't work yours so with a little TLC it might last you a long time.
Do a wet/dry compression test on each cylinder and put a real oil pressure gauge on it.
The compression will tell you how well the cylinders are sealing and the oil pressure will tell you what kind of condition the bearings are in...both of which will give you a good indication of the shape of the engine.
That pinging is probably from carbon build-up. Up your gas octane and see if it helps any. If it does then that's probably that problem. Idle fluctuations can be alot of little things. I cleaned up my little by-pass valve on the side of the throttle body to help mine. Had alot of carbon build up and wasn't working well. Think it might be called IAC for Idle Air Control.