Help me figure out this 5.0 HO I pulled out of the P.N.P.

Just visiting from the 65-73 forums. I have a 1968 coupe with a tired and possibly original 289 in front of a c4. Still has points. Someone swapped on a Edelbrock 289 Performer intake and a 600 cfm Edelbock carb. I've been keeping an eye out for a rebuildable/refeshable 302 roller that I could put my intake and carb on and drop my 289 dizzy into it (after Pertronix upgrade). I wasn't looking for anything special, just stock. My worn 289 is still fun to weekend cruise, figured a little more pep from the 302 would be nicer. I'm trying to spend as little as possible with this. Leak free and not smoking at a stop light and spaying oil mist all under the hood are my main goals.

Fast forward to yesterday. I pulled a roller 302 out of a 1989 convertible. EFI intake to pan. I've been taking it apart and the inside is a lot cleaner than the greasy out side. Cross hatch is visible and will catch a fingernail. Also I found a set of Ford SVO 1.6 roller tip pedestal rockers under the valve covers and an E303 cam installed and what looks like a newish double roller timing set. Gaskets look newer and the intake gaskets are Felpro. I know the upper end has been off. Pretty sweet junkyard find!

My original plan was to run a stock rebuild or refresh a good engine and drive that for the next couple years until I take the car down for paint and body. Then I was going to work the upper end and go for a modest mid to upper 2xx HP range. I've kept the 8" and put in 3.55 gears and a tru-track. Just going for peppy and fun around town kind of cruising. Thinking of EFI conversion at some point.

So how does what I found fit into my plan? Should I just massage the E7 heads a bit now (or scrounge for some GT40's) and install some inexpensive Tri-Y's headers? I have a friend who will give me some GT40P heads but I've read about header problems.

Thanks!

Holy crap, 40hp over stock? The heads are sitting on a shelf. That should easily get me to my HP goals then The last engine build I researched was a mild 460 for my old truck...i spend a couple weekends porting out D1VE heads and was grateful for any additional HP gains it netted me, lol.

I'll look for the TWR probably this weekend. The block is grungy-dirty. I thought about pulling everything and then honing the cylinders myself and checking the bearings for any unusual wear. Soak the block in carb cleaner and a wire brush...rod and blow out the oil galleys. I dumped a tone of crud on the lifters when pulling the intake. Part of me wants to try old school like my granddad would tell me about working on his old flatheads, but the other part of me thinks it penny-wise, pound-foolish to not have it boiled out and at least mic'd by the shop so they can tell me what's up. But then I like the challenge of going super-budget for some reason.

Also, my buddy meant to sell me those heads for cheap...after he decides if he's going to use them or not...but he doesn't want to buy new headers...but he read they are a good swap...it was a story, lol. I told him to keep em. I'll do a mild port job on the E7's and be done with it

Quick update, since...well, wtf not!

It looked like I was taking apart a rebuilt engine and I basically was. What I thought was a clot of gunk turned out to be a chunk of the block at the front passenger corner welded back on. I'm going to drop off everything next week to get inspected and checked out.