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It wasn't less nickel content that made the newer blocks weaker. Sometime between 1980 and 1981, Ford redesigned the 302 block to be much lighter.(and of course, cheaper) I assume it was to improve the new Fox body's balance and handling. If I recall, the newer 302 ( 5.0 ) block lost about 40 lbs compared to the older 302 blocks, and most of the lost material came from the main bearing support webbing. Even so, the post '80 blocks can still handle 400 hp or so, without much risk.
The Mexican 302 blocks you mentioned are quite a bit stronger, and do contain more nickel, since they're built to deal with the poor fuel and detonation conditions encountered in Mexico.
And then after all that messing around with the 400, you end up with a motor that's prone to cracking the heads. Like I said though, If you're swapping to the 351M/400 mounts and transmission, a bone stock 460 is the ticket. I think the 460 will get better mileage even.
p.s. The 400 does make a pretty good boat anchor. As long as you have a good strong winch.
Rezvani's Latest Post-Apocalyptic Monster Is a Ford F-150 Raptor Underneath
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