1983 hydraulic engine

Yes you are correct, I should have said leak-down. Glad to see you are in 'hands-on learn' mode! It'll be interesting to hear what you find. I know that you want to minimize expense at this point and that is the path you are being helped along, but it may or may not work out for an engine that has rust under the valve cover on the springs, so be prepared for any outcome.
Its no problem, like I had mentioned I have a spare re-built head but even if I did not than having the head re-done is not an issue for me, if thats what it takes to get it running and get the hands on knowledge than again its no issue for me.

At some point after the engine is running I will prob. end up yanking it out of the truck and saving it for a future build. I would like to do a Turbo build, Id have to find a neat car to do it in but chances are it will be in another 4 W.D truck since trucks are what I am more into.