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sitting for about a year, the engine lost timing and there are a couple broken studs
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Eric:
Here is what I would want to know:
Lost timing because distributor removed and unable to reindex? Lost timing b/c tensioners / ramp failed and caused possible further damage? Lost timing b/c mechanical advance on distributor not working? Did Mr. Valve meet Mr. Piston?
Broken studs: Cylinder head? Exhaust? How many?
IMHO: I think if you are looking to get into a 2.7 or 3.0 for $500 +/- you are eventually looking at a complete rebuild [of at least the top end]. I have seen (and purschased) redone & tired CIS engines for close to half what he is asking.
You could always part out the rest of the car and try to recover your $2,500 (keeping what you want).
My $0.02
Jason