ok, here's my position
Needs a new head gasket, needs a valve gasket, needs a new timing gear cover, and possibly a new front main seal
So pretty much I need to take the whole engine apart, Or, Found a little mexican shop in downtown Phoenix (Please don't take it as racist, they do great work at amazingly low prices) that does rebuilds for 700, or replace the head and valve cover gaskets, and do a valve job for 140.
Then the transmission doesn't like to shift from 2nd to 3rd, and occasionally into reverse...
Option- Bill W in tucson has a 240 attached to a 3 speed, not sure about converting a engine hooked to a manual to an automatic, but he also has a 302 with a c6, which requires shortening the driveshaft. Talked to him at the beginning of this month, haven't talked to see if he still has them or if they're gone.
I'm not worried about originality because this isn't the original engine anyways, and I need new motor mounts too.
I'm losing about a quart of oil a day in the thing!
So, what would your suggestion be?
I'm guessing for a drive shaft without having a shop make me a new one or shorten what I have, I could pull one out of a later model that has a c6 and is a long bed and it could work, right?

Re use the 240 head as it has a higher compression than the 300 head.
The 300 with the right cam, and addition of a four barrel intake and 390 cfm carb along with a set of EFI exhaust manifolds will wake the sleeping torque monster.
Garbz
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Well, regardless, I'm probably gonna end up buying the 240 off of Bill.
Ford Trucks for Ford Truck Enthusiasts
Thats the same mileage (8 to 9) my 69 crew cab 4x4 gets with a 360 and 435 and 4.10 gears.........Horrible.....
I can come down and tune it for you. With a 240 and the stock three speed with a good tune and 3.00 gears you will be able to get 20 plus.
The 240 will pull the 3.00 fine here in the Valley. I run 2.75s in the 64 and that truck pulls about 16 MPG with the 472 EFI
A 240 and an auto will suffer on the bottom end due to the shorter stroke and less torque. You will need at least a 3.25 or 3.50 gear to make up for the loss. and get lower mileage than the three or four speed
Confirm what rear gears you have as a change to a higher gearset will help get the mileage up also.
I was doing the 80+ mile commute from north Glendale to Chandler every day...Now its only to Skyharbor and 40 miles. The Tbird pulls around 24 to a gallon with the 4.6 cammer
Garbz
1. Don't go with the 302. You will need to change exhaust, linkages, radiator fittings, add an automatic trans cooler plus lines, auto trans linkage and shifter etc.
2. Cheapest is to rebuild it to 240, and fix the shift linkage to eliminate the shift problem. If the linkage isn't the problem, Ford 3.03 3 speed transmissions are still very common, so you should be able to find a cheap replacement transmission.
3. For a little more, rebuild it to 300, and you will have a decent setup. You won't have to change anything major, and the 300 will give you more power to use a higher rear end gear for better mileage. Plus, the 300 was made all the way up to the middle '90s, so parts and upgrades with factory parts are easily available.
Garbz, forgot you were in Phoenix! haha, Talked to Bill, gonna go pick up his 240 this week.
I have 3.50's in the rear. And, eventually I might end up converting it to a three speed, but for now the auto is just fine with me, I prefer auto in my daily, and manual in my go fast/have fun with, which is currently a completely stripped down 71 Firebird that I'm helping my brother with.
I live in maricopa, go to school in mesa, what the hell is wrong with me?
Speaking of a rebuild for a 240 - my 65 has a 240 with 148k. It runs great but the front and rear main seals and the distributor seals leak. I have no shop space to do the work myself and wanted to have someone else do it - however, the quotes here in Gilbert Arizona are running $500! Sooooooo, would you be kind enough to forward the name of the shop in Phoenix that is so reasonable - if I am going to pay $500 for seal replacements, I might as well pay $700 for a complete rebuild. Arizona owners, is there a meeting somewhere soon?
Cuz I sure hope you knew I was if I'm coming to get that engine! I'll give you a call after I talk to my dad, I should be able to come down tomorrow if that works for you?



