Marten - Can you post a picture of the stamped serial#? "LOQ" doesn't match any existing serial number info exactly that I can find. Nearest I can coe to that is an "LCQ" in the
1953 Chevrolet Truck Data PDF, but that indicates a "216" and not a 235.
On the casting numbers, the block "3701481" aligns with a 1953-54 235 with hydraulic cam and attached to a Powerglide in a car. The head "3701887" aligns with a 1953 235. The block date casting# E 13 3 decodes as E = May / 13 = 13th day of May / 3 = 1953 Model year.
No reason I can think of for not considering it for a rebuild. Your choice on keeping it with the hydraulic cam/lifters or if you want to convert it during the rebuild to a solid cam/lifter setup. Be aware there is a difference in the crankshaft end as it has a slightly different recess where a transmission input shift bushing needs to reside. But that's not a problem as you can get a bushing designed to fit that crank opening without having to do any mods or machine work.
