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300 is a stroked 240, no difference in deck height or anything. The heads are different, the 240 has i believe a 68cc chamber an the 300 has a 76cc chamber.
The blocks are the same. The crank, rods and pistons are different. The 240 has a 3.18" stroke and the 300 has a 3.98" stroke.
The heads are the same except the 240 head has smaller combustion chambers. You can run a 240 head on a 300. It will give you a slight increase in compression.
Without measuring the the stroke or pulling the oil pan and checking the crank #'s there's no way to tell 100% just by looking. You can check the head casting #'s because the 240 has it's own #'s but someone could have already swapped heads out.
The 240 usually only has 1 or 2 belt grooves in the harmonic balancer while the 300's were usually 3 grooves. But since the balancer is an external part there's no gaurantee it hasn't been changed in the past.
Like everyone said a 300 is a stroked 240. You are on the right track though, take a 300, install a 240 head for more compression. Toss in an aftermarket intake, carb and split EFI exhaust manifolds (the log style intake and exhaust manifolds severly restrict performance), and you have a great little mill. Arguably the best gasoline motor ever built. Great torque, and on average, you get many more miles out of them than a V8.
Now I remember, I was thinking of the smaller sixes, the 250 is a taller block than the 144-170-200. More useless information floating around in my head from bygone days.
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