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I have only ever met two mechanics in my 17 years-a-brickin' who can successfully lift the head on a six banger and then get it working right again. May I suggest a conversion to turbo 4 (then you'll never ever want to get rid of it!). If it was just a sleeve leak i would tell you to dump in some Alumaseal so you could drive the hell out of it for 9 years like i did with my 265 wagon(s).
(edit) long block for the B28F is ~$2800 for just the motor, convert for wayyyy less.
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80 262C Coupe- (FSO black, M46, original) 82 244GLT- (auto)
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