If the 292 has been sitting for a while, the rings are likely stuck (yes they could be worn out as well) and the valve seals could be bad. If the rings are stuck, they may loosen with time and the oil use fall a lot. If the valve seals are bad you should get smoke on start up after a warmed up run. Valve seals are easy, so are cover gaskets. Putting a couple hundred more miles on the engine will free the rings if they are gonna come free, and slow the oil use. Change the high quality oil often enough to keep it clean during this running, like every couple hundred miles. All this is pretty easy and may show you that no more serious work is needed.
Changing to a low speed diesel means changing the whole drive line as mentioned above, a very big project with lot of time and money.
I would go with minor work on the the 292, if it still smokes then major it. Forget the engine swap unless you decide you need more power, then go with gas to avoid the whole driveline issue.
It's your truck, do what you want. Great truck!
Last edited by sweepleader; 11/29/2019 12:39 AM.
