My buddy comes over on Saturday. The valve covers are for a truck. One of the openings is dead under the throttle bracket. He is looking that way while I am pouring over the motor and says to me, "You need to get a breather for this- why is there no PCV valve?"
Quick Strype thinking I know that on old cars (carbed) the valve cover opening is used for PCV. So I said "I don't need that, don't worry about it man." He scratches his head and says "Whatever"
Then today my neighbor brings his battery charger over and is assisting me on timing and fuel pressure. He says as I am cranking "I smell PCV". This guy owned his own mechanic shop. I completely ignored him and we kept going. Finally after 30-45 minutes he's had enough. He says "Jon this sounds like vacuum" and he starts probing. Sure enough he says, "What is this connected to?"
I look at him like he's stupid but being nice I look back to see and sure enough the PCV valve is dangling from the back of the upper plenum.
So anyway it sounds smooth mechanically. I need someone to time it because I can't keep it running long enough to find the sweet spot (pun intended) with the timing light. There probably is a fuel leak. There is probably a rocker loose or tight, but the fact of the matter is that the end is in sight.
I will post a part 2 if I can't get this one figured out.
I have been cured of my thick headedness. Turns out I'm not the smartest guy on the block.
Still can't keep it running long enough to change the timing. It makes pops and stumbles when it gets down to 500 rpm, which it should not be at. I checked the vacuum lines, the fuel pressure is running about 40-45 with the vacuum line off. It was idling low and popping and stumbling bad when I tried to take the timing light to it and the light wouldn't work, but it has worked before.
Okay here's a rundown of all the problems I ran into...
A) Fuel pressure loss- The BBK SSI intake was to blame. The tube inbetween the fuel rails was leaking.
B) Vacuum Leak- We had accidentally pulled the PCV valve out.
C) Spark plugs- The GT40X heads take 3924 (I think) Autolites.
D) Valve train- The rockers must be shimmed exactly as shown here: http://www.stangnet.com/mustang-forums/785764-cam-timing-question.html#post7909781
E) Timing- The black "reluctor" has to be pointed at 12:00. The rotor should be just behind it. The number 1 plug on the cap must be over the rotor or just after. That plug actually sits just over the black magnetic pickup (reluctor I think).
F) Fuel in the Oil- After many attempted starts the unburned fuel was just pooling inside the combustion chamber and you could tell from the plugs. Some were black and some were clean but they were all drenched. It was obviously washing out the cylinders.