Next Question - Balancer Time?

Yes to the balancer, and while you have the timing cover off, install a good double roller timing chain.
Do not know how old your engine is, but before you start throwing all kinds of superfluous fixes at it, is it time for an overhaul? The plugs in my '72 318 looked great, but she was hemorrhaging oil. So I bit the bullet, glad that I did, the rod bearings were into the copper.
Just my opinion.

This process started as a cooling system and intake/4 bbl mod...then discovered the timing cover was jacked....so I bought a double roller for it..THEN decided to do the balancer since I was gonna have it off. I also found the water jacket studs broken off one head, so it's getting head gaskets too. I'm really not wanting to do a whole engine rebuild yet. I know it runs (not for long, no coolant at the time) and I want to get it running so I can make sure the rest of the driveline is ok. Down the road I plan to build a nice little stroker or something for it. It's an M882 Five-Quarter ton, with only 87k on the clock. The tires are from '93 and it was last registered in '95.

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