Operation /6 - Where do I begin? Fix it or yank it?

I would check the chain that is on it to see if the timing marks are still lined up first. If they are I would do a dry and then a wet compression test followed up by a leak down test. That would give you some idea if it is worth looking any deeper in to.

If I was going to yank the /6 out I would just find a small block and go that way instead.