58: Find a NEW mechanic! :p You do not have near enough compression pressure! You said 120's down to 110. The medium compression model 350, and the high compression 350 Corvette engines should be in the range of 145/150 minimum! Thats with the medium engine (9.5 to 1), and the high (10.25) compression ratios. The 10.25 engine, new, will run about 165.
Was your engine up to operating temp when you did the comp test. If the engine was not hot enough, it will yield false/low readings because of the piston rings lack of expansion, and piston to cylinder fit. Need to start and run that engine until its good and hot, then re-test compression. You either did not test correctly, or you have no rings or valves left!
If your re-test shows low pressure between any two cylinders, you found it. May be a headgasket. May also be cracked head, usually in the exhaust seat area. This is more likely than the head/block gasket area. SBC heads will crack at or just below the valve seat. Usually what causes this is worn valveguide and the the valve head distorts/bends on the seat and will not seal which will cause a hot spot on the seat at blow-through area. Cylinder leakdown test will verify.
Also try vacuum test. Watch the action of the needle, if bouncing or jerky motion indicates valve trouble, either bent/sticking. You engine may seem to run OK, but a valve may not be sealing, or is toasted!
An easy test to make, to find out if the bubbles in fact are coming from your block, and not your radiator is this, Pre heat engine to operating temp, then pull water pump belt, thermostat housing and thermostat. Replace housing only. Then fill to neck. Start engine, rev, release, rev, release, and watch for bubbles in neck. With engine hot and cracks expanded will show bubbles.
If a headgasket leak, the bubbles will follow the rev/release pattern. If you experience a rapid rise in coolant level, you have a big crack in the seat area and exhaust gas is venting to the coolant. Spray light 10W oil into sparkplug hole of any suspect cylinder and you will get smoke bubbles, to verify which cylinder/seat is leaking. You will have to work kind of fast as your engine will get hot after 2 or 3 minutes.
Sometimes a compression test will not show that low a reading on a cracked head, and sometimes it will, just depends on where the crack exactly is and how big it is. Little hairline crack will/may show with a leakdown test and may not show with a compression test. Hope this helps!
Think Chevy!
