Looking at options...

The car burns/leaks a bit of oil and coolant but still runs strong. Starts with a big blue cloud about 1 in 6 times. it has 113k miles

Option 1: tear apart the engine and replace all the seals/gaskets. (cheapest)

Option 2: get a shop to professionally rebuild the engine with some porting, a .3 over, new internals, etc. ($3500)

Option 3: get a 350 block and have that professionally rebuilt with the same as above but add a stroker kit and new Brodix heads. ($4500)

Option 4: replace the engine with a crate motor such as the Scoggin Dickey 360hp TPI motor ($4500 plus shipping)


what is the best route? Obviously I like cheaper but I am willing to spend money where it makes sense. for the 350 block I just need to find a 1990-1992 F-body block? I know the oil pressure sensor changed locations and I also know something about emissions running through the heads but I dont know enough. Does Brodix have heads with the emissions in them? I assume I also need the 350 ECU for option 3 and 4 which would add more $$.

 

Cheap - a set of valve stem seals and valve cover gaskets (might not need the valve cover gaskets, even).

This is classic small block Chevy valve stem seal hardening/cracking. Oil leaks down the valve guides when the engine is off; when you start it, the oil burns off in a cloud of blue smoke. You'll also suck some oil down the valve stems while running, but the amount is usually too small to see the smoke (although it might be noticeable to the car behind you when decelerating).

If the engine has had anything close to regular oil changes, the likelihood of it needing a full rebuild is next to nil.

Changing the valve stem seals involves some means of keeping the valves seated while compressing the springs to remove the retainers and get at the valve stems. Typical is compressed air through the spark plug hole, although some stick rope into the cylinder through the spark plug hole. Some really brave types just put the piston up to TDC and compress the valve spring letting the valve hit the top of the piston. It'll take a few hours to get them all done.

If you're looking for an excuse to get a 350, this doesn't quite cut it. But, hey, any excuse in a storm, right?

 

From the sounds of it, the motor probably just needs a top end 'rebuild'. Honestly, I'd remove the heads, put new valve guides/seals in and reassemble everything with new gaskets - That should take care of the oil/coolant issues and with only ~115k on it, it should have plenty of life left. Save your money and drive the car until you can afford to drop a few thousand on a new 350 or LS1 or whatever you really want.

 

Oh, replace whatever gaskets are leaking. Where is it leaking?

 

Thanks for some insight. Im always a fan of more power but no sense heading down that path if it is not required yet.

It leaks a few drops a week. I think the seals are drying up since it sits alot (drive it 1-2 days a month in summer). and our winter is Oct-Mar.

I see leakage from the starter and it drips from the bottom of the bellhousing (T5) so it may be the rear main seal as well (1 piece on mine). I also have an exhaust leak. It all adds up to a fair amount of work. Guess I could do the work and cross my fingers the rear main seal is okay. I assume after 20 years the engine mounts need replacing too.

 

forgot to mention the coolant gets dirty very fast so that is a reason I think the head gaskets are failing.