Thanks guys,
I will check the valve adjustment this weekend, probably end up pulling the head. I'm a little concerned that a valve job will increase compression and that will lead to the need for an O/H, which is not in the budget. I want to stay with the 216 if I can, but have a 56 235 that ran well last year and didn't smoke. If the 216 doesn't turn out well I'm trying to see how to run a compression ck on the 235 bolted to an engine stand. I'm thinking that the harmonic balancer is still on and run a pulley to an electric motor, or maybe epoxy an nut on the balancer and turn it with an impact wrench?