I took the head and oilpan off my engine and found a good cleaning, adjusting and some gaskets made for a great running engine. A full valvejob would have given me more trouble as it puts the pressure on the rings etc. I didn't buy an old truck to have a new engine. Just a smooth running and dependable one.

Open it up, clean it up and give it a good tune up. It sounds like it was starving of fuel as well as maybe some stuck rings. give them a good soak when the head is off. Minor cylinder wear will confirm low miles.

54 3100 with 235
62 flatbed dump C60 with 261