273 small block question

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Baby huey

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I'm new to this site. I have a 65 cuda that i'm restoring. The engine is a 2 barrell stamped 10-13-66 so i think it is not the original engine. The engine looks like it has been rebuilt as it has aftermarket freeze plugs in it. The compression is 145 lbs. The cylinders do not have a ridge at all. The engine has I would say minor sludge in the pan. I'm going to have a head job done, but am l looking for input on whether I should go ahead and rebuild it. I don't care about hopping it up other than putting on a 4 barrell carb. It still has the mechanical lifters.
Thanks..
 
Sounds like it still has life in it. I rebuilt my 273 Commando in the early 90s. In 2013 while the body was undergoing restoration, I pulled it, replaced freeze plugs and had the heads redone. I also installed a new timing set. I fired it up late last year and it's been running fine. The bottom ends of these are pretty robust. How is your oil pressure?

I tend to lean toward keeping the car on the road rather than rebuilding/replacing "just in case"...
 
The oil pressure is one thing I didn't check before tearing it down. The guages weren't working at the time.
 
Welcome to the site. No ridge? I'd be inclined to hand hone it with a good honing oil, installing a new set of rings and call it good. If that 145 psi was even in all 8, just a chain set and do the heads and call it done.
 
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