Well right now i'm installing megasquirt and c.o.p's and i have a big leak from the valve cover because the threads were stripped by someone prier. so i was planning on getting megasquirt running and then taking the head off to take care of the leak problem, at the same time, overhauling the motor just to ease my mind...i know compression is good so i wont be tearing the pistons out unless something is terribly wrong...i'm use to dealing with troublesome motors and don't feel like having to rework anything twice.
and yes i know that the metal composition in the block is wonderful, but i don't trust previous owners.
p.s. i also have about a half inch of sludge in my pan from sitting for ten yrs and not being run and that makes me cringe