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Being 'forty years old' aint got nothing to do with it. FE's can and are built that don't leak, don't blow up, modern engines can leak and do blow up as well.
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Well, the odds don't seem to support this. Taking a 40yr old block that was designed to produce 270hp and re-machining it to a 500hp state with god knows what kind of internal rot in the water jackets. No amount of testing will catch everything short of sawing the block open. Plus the fact if you haven't owned the block since new you really don't know what it's been through.
You just have to expect this stuff to happen with old iron...
