I have been away for a couple of days and was surprised to see the # of replies to this topic. Seems to be 2 different roads of thought on the subject, but I am going with the rebuild. I will be doing most of the work myself, since I can't afford to hire it out. Besides, I enjoy doing my own, it gives me a sense of satisfaction knowing that I did it myself. I never really considered buying a new 350 simply because of the cost. I like the idea of keeping the original engine if at all possible. Like I said in the beginning, the engine runs fine, just losing a lot of oil. As long as I can solve this problem, I am ok with it.
