360 rebuild or throw away ???

What hole are you referring to?

If you are referring to the top pass side camshaft thrust plate bolt, it it used for oiling the timing shaft. There were a few ways that they accomplished this.

1. they had a special camshaft thrust plate bolt with a hole through the middle.

2. They had a bracket that bolted through the other camshaft thrust plate bolts and a tab that was bent into the top passenger side camshaft thrust plate bolt and you leave the bolt out.

3. They just left the bolt out.


If that is not what you were asking I need more explaination to help you.

From the pictures I saw, your block looks fine.