I've got a '67 Mustang Fastback with the 390/C6 combination. ~135k miles, but was rebuilt ~20 years ago, with only about 10k miles since the rebuild. I only use it as a weekend driver, maybe occasionally to work. Lately, I've been getting a ticking sound coming from the engine, which increases as the RPMs go up. It's a single tick, not a rattle, so I am thinking it may be one of the lifters? Maybe the fuel pump? I am not a very good mechanic, so I am merely guessing. Here's the weird thing....it doesn't do it at start up, it starts after I've been at operating temp a while. But, after a few minutes, it goes away. Stops completely.....
Here's the thing.....if it's something major, I don't want to spend bad money before I spend good money. The car runs fine, but it's not what I would call a strong engine. It runs out of steam around 4,000 RPMs, oh, it makes plenty of noise above 4k, but it doesn't do anything exciting. Point being, I don't want to spend $X to fix a problem, when $2x will get me new heads, new intake, and maybe headers.
So, two questions: 1) Any thoughts on what it might be, and why it comes and goes? 2) If it's major, and in the valvetrain, do I pull the engine and do a full up rebuild, or even stash the engine (numbers matching), and replace with another 390 long block? Or, do I just make the repair and drive it around happily?