Original 318 worth keeping??

Keep it, as a bonus it most likely has a steel crank.
And you know what it is vs some core down the road.
Oil the cylinders up real good.
Seal it up real good, I have even removed the spark plugs and filled the cylinders clear full of oil, sealed the exhaust manifolds, removed the intake and filled the intake ports, and engine clear full of oil and put the manifold back on.
I did this to a low milage 64 413 hp many years ago, and when removing the oil 20 yrs later the engine still turned over by hand. After being stored in a 100 yr old drafty barn.
Have you ever seen anything rust in oil?

Google engine storage and you will find tons of info.


Steel crank was dropped after 1967 model year in passenger cars, although some heavy duty trucks (318-3) were said to use them later.