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Ford designed two engines in the mid-50s. The FE was designed for cars (the Edsel) and the FT was designed for heavy trucks (not pickups). If you can get your hands on a FT buy it. I've seen a few at machine shops and they make the FE look weak. They have much more webbing at the main journals and the Main bearing caps are very large and strong.
I have a 428 in my garage I can't wait to rebuild for one of my '68 Mustangs. The FE will be around for a long time because it's so strong and versitle.
Dove Manufacturing is awsome. They are remaking (in both iron and aluminum) practically everyting you need to build an FE, including 427 side-oiler blocks (which can be stroked to 600 ci) and now tunnel port heads and intakes.
For those people concerned about weight, an aluminum 427 weights about the same as an iron 302. If I had the money ......
Edsel Ford died in 1943 and so could not have worked on the FE project of circa1958. The virtually complete overhaul of the Ford/Mercury/Lincoln lines of 1957-1959 was spearheaded by Lewis Crusoe and Jack Reith as an attempy to supercede GM in market dominance for the 1960's. Unfortunately, a recession in 1958-1960 coupled with some product problems short-circuited this entire effort and doomed the Crusoe-Reith plan to failure.