CALLING ENGINE GUYS/GALS

CFD244 said

Seller is long gone.......I am planning on tearing it down before installing it. Correct, the engine has never been run so you are right they are not seated. I was wondering if the "unseated" condition would account for the crappy leakdown readings.

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Nope. Bores look like rusted poop honed in the hopes of a dingleberry revival, valve seats wide as the Grand Canyon, piston crowns fairly crater-pitted, I haven't pulled out the Sunnen roller knurlers to "save" a guide in 25 yrs. Too many real guide restoration choices to excuse that these days.
Choice #1) drop it in, hook it up, light it, say it magically seals & You get lucky.
Choice #2) take it to a trusted shop & have it done right.
Choice #3) enjoy choices 1&2 and spend more quality time with Your ride.