Whatever you do, DO NOT remove the valve cover.

If you remove it and see a tiny speck of green water, DO NOT pull the head.

If you pull the head, DO NOT inspect the cylinder walls.

If you touch those cylinder walls and find a suspicious groove on one, you're done. You must pull that piston and confirm the broken ring.
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My new engine started as a simple Saturday afternoon valve adjustment. But my engine guy's rebuilt Chevy 261 is "only" costing about $1700 but it is worth the price because it's my life-long daily-driver. If I didn't have my '48, I'd buy some used $8,000 truck of uncertain lineage.

(Wife says it's much, MUCH more than the $1700 check to the engine guy but she's thinking about the new di$tributor, pre$$ure plate rebuild, clutch, $hort-$haft water pump, rear Huck'$$ brake $hoe$, dual ma$ter cylinder and it'$ adapter ..........$)

1948 3/4-Ton 5-Window Flatbed Chevrolet

34 Years. Now with a '61 261, 848 head, Rochester Monojet carb, SM420 4-speed, 4.10 rear, dual reservoir MC, Bendix up front, 235/85R16 tires, 12-volt w/alternator, electric wipers and a modern radio in the glove box.