Thanks guys but this engine ran okay when I pulled it out years ago. Spun a cam bearing? Possible but don't know why it would or would cause that. I guess short of taking it apart, I won't really know. Man, this is confusing and I've talked with some pretty knowledgable people and they're stumped too. Thought I'd put the word out and see what I come up with. Never before in my life...
Thanks again.