Build Off to a Good Start. My '74 40 Series

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We've got a squirter folks! Proper head gasket, head back on and torque to spec. Ran the oil pump and we've got oil. Such a relief. Thank you all for your insight and help.

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Quite the adventure to watch from the armchair section.
Love your tenacity, happy you got the win!
 
Initial assessment of the rocker arm assembly, im going to say the shaft is shot. Sections of the shaft with some pretty deep scarring, every oil port was plugged with gunk. The front of the shaft at cyl #1 even looks discolored from excessive heat.

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I found a whole rocker assy & push rods from another mudder, they'll be shipped when he returns from travelling. That gives me some time to take care of a few other things while I'm at it. I got a new thermostat & hoses from Specter that I'll put on but also want to change out the universal radiator I got from Summit Racing back to a factory Toyota radiator (with the proper drain spout). I also was thinking of changing the fan to a 6 or 7 blade plastic fan. I have been reading horror stories of these metal ones breaking and taking other components with them.
 
I also was thinking of changing the fan to a 6 or 7 blade plastic fan. I have been reading horror stories of these metal ones breaking and taking other components with them.
I think you're thinking right.
 
You have to love Specter.
Placed an order (and not a small one) yesterday afternoon and FedEx dropped it off this morning.
I have quite a few other chores to get out of the way before I can work on it but hopefully it wont be 100 degrees in the garage when I get around to it.

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But before I get too far with that, I noticed some wear on a few of the rocker arm adjusting screws. Is this enough to be concerned about? If I need to swap them for new/better ones, I should do it before the valve adjustments.

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Setting valves is like a half hour job. I would start with like a +0.002 clearance. Let it run for a few minutes to polish/loosen things up. Then set them to correct clearance. Better to hear the valves than burn them by being too tight.

I don't know I ever seen one worn so bad/cooked - I would find better parts. I'd be checking for cause of that wear.

I once saw a rocker that wobbled on the shaft. The shaft area for that rocker was worn badly on the bottom. I'll bet that valve guide was worn too
 
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