Slant 6 power issues

Lots of slack in timing chain??
I don’t know. I haven’t gone into this motor at all. It’s a 77, that’s all I know about it. Bought it and the transmission off some crackhead in Spokane for $300. He told me it was out of his 72 Swinger but I knew looking at it that it was at least 2 years newer than that. It’s whatever. I wanted a late model one anyways for performance purposes. I’m planning a total overhaul on it but it’s gonna cost me nigh on 5 grand so it’ll take a while to get there