Chris, we took the rocker covers off & found nothing amiss - all was rock-solid & being oiled correctly.
So I reckon we have a guide-plate / lifter failure & a stuffed cam.
A "real engine" has been on my to-do list for ages - the current one (ex 95 Mustang) was cobbled together in indecent haste to get the car tested for emissions before the rules changed from 37-01 to 79-00. It got a hone & re-ring, new bearings & new cam - that's about all.
Rather than more band-aids, I am inclined towards just biting the bullet & going for the "real engine".
A crate engine is becoming my favoured option, although I probably only need a short block as I have the AFR heads & all the other bits.
What I really need is a local Ford SB expert who can help with the specs & the build - if I go this way, I'll probably make it a mild stroker (say around 330ci). I know nothing about how you spec the pistons get to desired 10:1 c/r & keep valve clearance, pick the right cam, pushrods, etc, so I really would like to just hand the guy the whole car as-is & let him figure it all out, then build & install it. (R&R of engines & gearboxes is getting beyond me - physically & mentally !).
Once it is ready, I can get my Autronic expert to visit the w/s, reset the ECU side of things & test.
Its a plan, which is way better than no plan, & its going cost a bit (but a "real engine" has always been on the list anyway).
Any tips on things I should look out for ? (Eg - 2/4 bolt mains, stud girdles, I/H beam rods, forged crank, etc - bearing in mind that its not going to raced seriously & is unlikely to ever see more than 6000rpm) ?
Thanks & Kind Regards,
Peter D.