So I have about 100 miles on the new engine now. Here is a photo of it installed before it had been started:
Since I got it running I have also done:
Pertronix Flamethrower billet distributor
Pertronix Flamethrower coil
Hooker Headers
2.5" exhaust w/flowmasters
Electric Fuel pump conversion
Rebuilt the carb
It turned out that the hissing sound was the fuel pump. The pressure was bleeding down into the crankcase as far as I can tell. I disconnected it and put in an electric pump back near the tank, the hissing sound went away and the engine ran better. The fuel pressure is far more consistent too. I put a fuel pressure gauge on the dual-splitter fuel inlet going to the carb and it was jumping around like crazy from 2-5 PSI with the mechanical pump. With the electric it's a consistent 6 psi. I got a facet pump and mounted right next to the fuel selector valve under the cab.
I couldn't get the idle to be consistent. The timing would move everytime you revved the motor, the mechanical advance wasn't returning everytime, sometimes it would leave some advance in, othertimes it would work OK. Turns out the 'rebuilt' distributor I bought for $40 at kragen was worth what I paid for it. I got a pertronix billet distributor and now the timing is rock solid. After I put the billet distributor on it would die at stop lights. Once the engine was warm it would start cutting out at idle when it was in gear. Turned out the brand new 'stock' coil was either defective or wasn't up to the job so I got the coil that pertronix sells to go with their distributor. That eliminated that problem.
I wasn't really impressed with the power the motor was making, it seemed pretty weak for what it was. I still had the stock 2" exhaust and old blown out mufflers on it. So I ordered some hooker headers 6903. I originally ordered 6905 headers but found out that those don't fit, they are for a 4WD truck. The 6903 fit like a glove, even with my oversize bendix steering box. No mods required. I followed up with a 2.5" full dual exhaust out the side just in front of the passenger side rear wheel and with dual flowmasters and some chrome tips. The sound is great! Its loud and rowdy, but not obnoxious unless you put your foot into it. The power difference is astounding. It made a HUGE difference in power and acceleration. Now it puts out the kind of power I was expecting.
Next up is a hesitation when you hit the throttle off the line. I rebuilt the carb, it had been sitting for a couple of years. It didn't make much difference though I'm still working on that hesitation. I've got an accelerator pump cam kit from holley to try some different accel pump profiles that hopefully should fix the problem.
Once I started driving it I also discovered chassis and other drivetrain problems. Bad rear wheel bearing. A rear brake spring broke. tie rods worn out. Drag link worn out. Replaced all of that. Had a front end alignment, drives like new! (but with a LOT more power)
Anyways, pics coming with the headers installed, maybe a video of it running.