hey keith
i'm sorry i didn't respond to this after you took the time to write it. i just saw it. in any event, the engine is out, and almost completely disassembled. it couldn't be salvaged. there was severe pitting on the deck of the block around the number 1 cylinder. that was the piston that was froze with rust. after examining the motor, (to the best of my ability), i believe that the rust was a secondary problem and occurred during it's 40 years of sitting. the cylinders were free of any obvious damage, the rocker arms and valves where intact, and all the bearings were in place and appeared serviceable. either the block and/or head was cracked and the rancher gave up on it. it's funny, he, (the rancher), didn't give up with out a fight. there were very few nuts, bolts, and screws that either matched, or were unmolested. it would appear that ranchers of that period would attempt to fix ANYTHING! i picked up a 1954 235 that ran when it was pulled out of the truck is was in to be replaced with a small block V8. i have learned here that it is a very good upgrade for those of us on a budget.
again, that you for taking your time to share your expertise with me. i'm sure the information you provided will come in handy in the future.
i look forward to talking with you again.
~marc
~m