VIN 4728 Running Resto

[Rich_NYS]

One valve way out of adjustment. Or a bad camshaft/rocker arm. Or both.

When you adjusted the valves did you find anything way out?

Yes, and I thought that I had found the issue. I do believe it improved after adjusting, so I think that it makes sense there could be an issue as you described (that was slightly improved with adjustment.)

Inspect the cam lobes looking for anything that looks scored or excessively worn. You can also back the valve adjusters all the way out and lift the rockers off the base of the cam lobes in turn. Inspect that riding surface of the rocker arms using a dental mirror, if you find one that looks concave in the center rather than smoothly convex, you've found the culprit which typically means you need to replace the bad rocker arm(s) and the camshaft.

This will be my next step....thanks for the tip.

Not an insignificant job BTW. This job implies that you are removing the head unless you pull the engine out of the car. Even in that case you're about to discover that the rocker arm shaft is held in place by the head bolts, and if you were to pull the engine and remove the cam, you need the special tool to hold the cam gear in place or you have to remove the timing cover as well.

Sounds great, I can't wait (ugh!) I see the rocker arm shaft is held by the head bolts, I can't just unbolt it and replace what is needed? (The engine is staying in the car.)

Root cause on this is typically someone forgetting to change the oil for, oh, say, decades, OR running the car with a stuck wide open fuel distributor, flooding the oil sump with gasoline, turning the oil into about 0W0 weight. This in turn wipes a cam lobe or two. How did the insides of the engine look? If it looks gunked up that's the oil change issue, if it's remarkably clean then it's the fuel dilution theory.

If you find a bad cam, since that car is carbureted, I'd bet money that's what happened before they did the carb conversion.
Check all the rocker arms.

The engine looked a bit gunked up, but also had been flooded prior to me changing the oil, so I think it was running the 0W0 weight you mentioned (I'm guessing there was ~1 quart of fuel in the oil.) There was no noise when Steve was there, or in the test drive video I have from the week before I bought it. I'm guessing it was flooded and severely diluted the already crappy oil just before I got it.

I have a bad feeling it's a rocker arm/cam issue.

Thanks Dave....very much appreciated.