One of the most important functions of a machine shop is to evaluate the true physical condition of the engine block to verify that it is a candidate for rebuilding. A 50 year old block can be subjected to a variety of conditions. Blocks crack, heads crack and warp, engines are put together with mismatched parts and it would be a shame to waste your time and money without determining you had good sound cores to start with.
When the shop disassembles the engine they can visually note trouble areas that are obvious to them but you might overlook. After they "boil out" the block there are several methods of checking for cracks, misaligned surfaces and points of wear that will effect the life of the rebuilt engine. They have the equipment and expertise to insure you aren't wasting your money on a defective block, crankshaft or cylinder head.
Something that you might be overlooking; does your engine even NEED to be rebuilt? You might be jumping the gun without getting some expert advice and wind up spending big bucks on an engine that might be brought back into decent running condition without a major overhaul. Getting a compression test to determine ring sealing and condition of the valve train and checking for decent oil pressure, is warranted. Also, oil leaks, as long as they aren't from the rear main seal or excessive "blow-by" from stuck or worn rings can be corrected by new seals and gaskets. The rear main seal can be a real challenge!! These are some things you can visually check out. If it is determined that the engine has weak compression, burned valves, low oil pressure, and some lower end noise it's time to dig deeper into your pocket and have it rebuilt. I'd highly recommend seeking some professional help in doing this preliminary evaluation....you might just get lucky.
Dave
