John,
This topic is almost as entertaining (and frequent) as the recurring discussions on engine colors and oil filtration alternatives.
As long as your are not heavily working your engine (very high revs, for very long periods) there does not seem to be a valve seat "erosion" problem on old low compression engines.
If you are rebuilding a head, you might want to consider putting in hardened seat inserts. Many of us have asked this same question and have left the head as-is with no problems (I asked 7 years ago).
Oh yes, the best advice is to take heed to carbking - he's a pro.
Tim
Last edited by tclederman; 07/17/2008 3:53 PM.