I got a 350 for free from a local squarebody group member that does scrap/salvage stuff for a living. He just wanted it gone out of one of his project trucks so he could go back to an I6. It ran, but not well and had no pedigree.
Anyways, I've always wondered why these old truck motors just didn't really perform well and left so much power on the table at only 165-195hp stock. Until I started tearing into this motor that is... It is a 1973 Truck 350(LT9) that appears to have never been touched. No rebuild or machine work that I can identify. I was planning on just throwing new seals on it and maybe a quick bearing replacement... but when I ran a compression test I found one cylinder way down on compression and a leakdown showed it was the intake valve. So then I tore it down to see what I needed to do.
The bearings were pretty trashed and there was lots of buildup on the valves. They only had the crappy o-ring valve seals and they were totally rotted off. Then I started to tear it down to take it to get it hot-tanked and honed... measured the deck clearance and found the stupid pistons are dished with a 13cc dish... and are .038" under the deck
Which gives a ridiculous 8.04:1 CR and .067 quench with the factory GM 0.029 thickness gasket. Since the standard Fel-Pro Perma-torque gasket is .039 compressed thickness, anyone doing just a head gasket replacement would be dropping their CR to 7.9:1 and .077 quench
. Which of course is horrible. So now I'm looking at just having it bored .020 over... decking the block .020" and then getting some flat top pistons with a 1.55" compression height so that the piston is only down in the bore .015" and a quench of .054" for an 8.75:1 CR.
All of that to say... we get **** gas mileage because the motors had terribly inefficient setups from the factory... a simple bowl blend, better cam, and reconfiguration of the CR/quench setup should get big gains in power AND efficiency. We'll see just how much when I get it back together, but I'm betting it gets significantly better mileage and has TONS more power than the old 350 I had, which was only getting between 6-8mpg and couldn't even spin the single tire with 4.10's.