Just got done rebuilding mine- fired it off last nite. Mine's a '74, and I know there's a bunch of difference between the early and later motors, but anyway here's my 2 cents- DEFINITELY do the timing chain- mine has two chains and a jackshaft, and about 6543453543 tensioners, and boy does it make a difference when all that slack isn't in there. It doesn't even sound like my truck anymore, without all the slapping and rattling under the timimg cover.
The oil pumps pretty much seem to last forever- I was going to replace mine while I was in there, then found out they're not $20 like one for a small block- Some other guys on the site advised me that it probably didn't need replaced, since the gerotor pumps they put in them are fairly burly, I did tear mine apart and checked it, and despite 10 years of abuse that I'm entirely ashamed of (those little trucks really are bulletproof) it really didn't show much in the way of wear at all. I just hooked up an oil pressure guage last nite, and it's carrying 60lbs easily, on the old rod and main bearings.
I also highly reccommend dropping $70 on one of the pertronix ignition set ups. Man, does that ever make a difference- it starts way easier, and is noticeably smoother.
Everything else is pretty straightforward, if you've done any engine work at all. My machine shop surprised me by finding a Fel-Pro full gasket set, with the good "print'o'seal" head gasket, I know gaskets are kind of a personal preference item, but I'm real big on FelPro stuff (don't tell anyone, but I've actually gotten away with reusing the good blue head gaskets on interim "grenade" circle track motors).
The only other advice I have to offer is USE PLENTY OF ANTISEIZE when you re-assemble the thing, especially on the head bolts, 'cause they like to seize up inside the water jackets. It's a P.I.T.B. to work with- a little bit on your hands, and it seems to wind up on every tool you own, and most of the surfaces within a 20 mile radius of where you're using it, but well worth the aggravation of wiping off everything you own 100 times.
hope this helps.
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