If it is a 5.0 (and I am assuming it is) I'd keep it. Best Engine Ford ever made IMO (excluding big blocks of course!) and parts cost nothing. Very reliable. And, don't chastise me too bad for saying this, it will beat the balls off of a 305 F-body. I know an awful lot of low 12 fox bodies that just swapped the top end. Depending on the year some came stock with forged internals. I'd fix it up like you want and see if you like it. If you like it keep it for awhile, if not you could probably get about $1500-$2000 for it.
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-Nick
9/11/01- Never Forget
2002 Pontiac Trans-Am WS6 # 206
Chasing 10's
469RWH/437RWTQ
11.05 @ 123
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