Just going to toss this out there. In my neck of the woods there are lots of “Mobil Mechanics”, some even ASE certified, who will come to your home and check the engine out. I don’t know what the OPs financial position is, but it might be worth a few bucks to get some professional help. I would be wary of one that doesn’t have grey hair. An hour or so of the mechanics time is going to accomplish one of two things. #1, hopefully the engine will be setting there purring like only a 305 V6 can do, or the OP will know to start saving up for a complete overhaul. Just a different way to proceed.
Martin '62 Chevy C-10 Stepside Shortbed (Restomod in progress) '47 Chevy 3100 5 Window (long term project) ‘65 Chevy Biscayne (Emily) ‘39 Dodge Business Coupe (Clarence) “I fought the law and the law won" now I are a retired one! Support those brave men/women who stand the "Thin Blue Line"! Hug a cop! USAF 1965-1969 Weather Observation Tech (I got paid to look at the clouds)