Greg, you're not being a debbie downer at all. The motor had good oil pressure before the previous owner pulled it, it turns over by hand very easily and smoothly. I was planning on pulling one cap tonight just to have a looksee, but I'm sure the bearings will look like well worn, very high mileage bearings. Just looks like the previous guy didn't change is oil very often is all. The oil that came out of it looked good and so did the filter when I cut it open. There's no evidence of damage anywhere in the motor so far, just terrible looking oil deposits.
Also sticking to the plan that this is a budget build to just get it in the car and running. If it breaks, so be it. I don't have the money to build a forged 408 right now, but I will in a year or two.
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