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If you send the heads in for a rebuild. It is common for high milage Fords to need new rocker arms, valves, new valve guides, heads milled flat and shims/seals.
Your best bet for a high mile engine, on a budget, is to have the heads cheched for crack/warp and corrected. Replace valve seals. This will stop some oil consumption and will not effect the rest of the engine. You can then do the complete build at a later date.

 

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I just called Joey's Engines in Houston and they can rebuild the heads for $175, providing new parts aren't needed.

"providing new parts aren't needed."

Thats the catch all.
My shop also gets the same basic rate. But that set of high milage heads WILL cost you well over $400.00. I see it every week.ain: