Rebuilding A 302

Bought a motor to put in my 95 Cobra it was out of an 89-93 fox and it sat on a garage floor for several years.
When I drained the oil is had antifreeze in it so I'm thinking blown head gasket or cracked head. That being said I'm going to rebuild it.

My question is what's a good budget build. Can I get decent hp out of the motor with gt40 heads e303 cam and a Cobra upper and lower intake or should I wait and go for a nice set of aluminum heads....what rod bearings should I ise? Should I get a new timing gear and chain? I heard something about replacing cam bearings?
Basically I want to know everything I should replace on a motor that has had the internals covered in antifreeze for a long period of time without breaking the bank but still neting me some decent hp/torque #'s

Thanks Guys!
 
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I lied there's more...what can I use to clean everything?....what tools will I need? And of there's anyth ing I've missed or you all think I should know let me know please engine is from a 89-93 going into my 95 Cobra....also my cobra had an oil cooler was that in the motor itself or part of tue cooling system? Thanks again.
 
I used Gunk engine cleaner. Spray everything down real good. You can get some small wire brushes from Harbor Freight for pennies. A good kitchen brush like the ones used to clean glasses works good also. Ask your wife/girlfriend first.

Measure the cylinder with a dial or digital caliper. You can get one of these from Harbor Freight too for around $20. It will be a POS but it will be within a few thousandths of an inch. Stock is 4.000". .030" over will of course be 4.030".

You can buy a rebuild kit from Jegs. They aren't much. You should check the serial number on the block before going any further to verify what engine you have. Some of the 5.0's used forged pistons. Some used hypereutectic. It may not matter to you, but best to know.

I would strip it down and take it to an engine shop to be cleaned. They can also install new cam bearing fairly cheap.

Are you planning on rebuilding this yourself?
 
Good thread idea.

How do you know what main bearings to buy? I assume they come in several thicknesses. I guess you use the plastigauge to make sure the clearance is good. I supppose you can just look at the cylinder condition and buy the balanced rotating assembly of choice.
 
You can buy a crank kit with bearings already gapped, or you can turn the stock crank down. Usually the finishing machine shop checks all the gap anyway.

Kurt
 
I kind of want to assemble my own short block. Didn't know you could buy matched kits. The other thing I'm worried about is the thrust bearing. People say they set it by tapping the crank. What does this mean? What gets set?
 
Usually you bring all your parts to a machine shop and he machines everything so that it all fits. Then he gives you a box of parts and you put it altogether.

Kurt
 
Yes i am rebuilding it myself...money is tight because its my slow season so there will be no taking it to a shop unless i absolutely need too. i have pulled and re installed a few done a few trans jobs too so i know i can do it if i take my time.

The original Cobra motor was seized and the heads were shot. scrap yard fetched me a whole 40 bucks haha by the time i scraped it it was a nothing but the block and heads. i wasnt interested in keeping anything else...i did however screw up by not keeping the timing cover like an idiot when i had a feeling i would need it and come to find out i do.

So those things have been a bit of help but is there anything else? or should i just snag a rebuild book and walk through it step by step