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i have a 79 f150 auto trans ,300 six cylinder,problem is it is pinging BAD after it warms up,put the truck in a local shop and they wanted $800 to replace erg valve and time it i told them forget it ,i bought the valve put it in and borrowed a timeing light and time it,some one said timing chain bad ,but the truck starts up on secound crank dosent smoke or pop through the carb or exhaust does have a rough idle i also put a vacume guage on the port at manifold and guage says 20inch vacume ????????dont know why i did that but i heard several people mention hooking up the vac guage??? im so agravated with this that i put the truck on craigs list to sell it,oh and this problem just happened all once no warning went to the store and truck sounded like a bucket of bolts rattling,and no it is NOT knocking it is def pinging under acceleration AFTER it warms up ,oh and temp guage stays in middle or closer to the cooler side of the guage
First the 240-300 engine has No timing chain. Its just 2 gears. 99.999% of the time no problem with any of that.
Also sometime the outer part of the dampner can slip on the inner part. No it won't effect the engine balence since it interally balenced. But IT WILL throw off the timing marks.
My advice would be to for the moment toss the timing light to the side and time it by ear. which means back it off till it quits pinging and then see if it still pulls ok.
then you can look into fixing the balencer to see if that is the problem.
Timing can be set with a vacuum gauge. Turn the dizzy until the highest steady reading is obtained and back off 1-2hg and that will be the starting point. Drive and try and adjust from there if needed.