Compression looks quite acceptable. Over time the valve seals probably went south and could stand to be replaced.Not a big job!

 

So I should probably take off the heads and have a look at the seals and guides?
Is this a no-lead gas problem?
Thanks,

 

They did use harder valve seats for vehicles that were to use unleaded fuel.
Valve stem seals can be replaced by removing the valve covers and applying air to each individual cyl with the piston at TDC and using a tool specifically designed for that purpose, to compress the valve spring , remove the keepers and spring and old seal. Then install the new seal and assemble in reverse order.

 

So you would try just the seals, not the guides yet?

 

A lot will depend on just what you want to do with the vehicle. If you plan to hold on to it for a while, it would be better to have the heads redone to install hardened valve seats and of course the new seals would also be installed along with any worn guides.

 

I have owned it for 26 yrs. Finally got some time to work on it, so I'm keeping it. With you and a few others, maybe I can learn enough to get it so I can drive it every day. Thanks

 

No doubt in my mind, you will want to do the best you can . Sure would like to see some pix . They sure don't make em like they used to!

 

Here are some pics

 

VERY nice!

 

WOW, Nice !!