67 XR7 GT restoration

I’m 10 months into my restoration. This is my 3rd and last 67 cougar. I’d like some opinions from members.
My first question is; I have to replace the hood and deck lid, since they were too rusted to salvage. Does this seriously affect the value of my car? (not numbers matching anymore)
Along the same lines, i just finished tearing down the 390 and found that the block may be the only good thing left. I’m basically wondering the same thing here again, if I replace the motor, is my car depreciated in value? I’m not building this one to sell it, but want it to be done right.
It ran and drove when I started this resto., i’m pretty down about finding the condition of the motor so bad. I thought I was just going to go in and do gaskets and bearings. Even the crankshaft is bad, so i’m trying to decide if I should give up on the motor at this point and start fresh with something new.
Once I get more familiar with this site, I’ll post some pics and update my profile. I just joined this morning.

Welcome!

Having been down this path recently with my own completely worn out '67 XR-7 GT, here is what my opinion is:

You are always money ahead with the original engine. The cost of rebuild varies, but here are a few tips.

If the block cleans up at .030 over you should be okay there. IF the cranks cleans up at .010, that should be okay. Unless they are cracked the heads should clean up with the addition of hardened seats and new guides. You can probably reuse the rods, but pistons, rings, cam, lifters, and of course all the bearings are a must. (this is not an all inclusive list…) I would also think about rocker arms and shafts. Then get it balanced and you are good to go. You will be amazed at just how nice a fresh 390 GT motor really is.

Hood and trunk lid: no worries just get the best ones you can find.

I agree with Bill. The 390 should be rebuilt if its within tolerance mentioned above. Hood and deck lid should not make a difference being replaced. Can’t wait to see your pictures. Welcome to the site.
Steven

The crank is plenty strong even at .060" undersize which is the smallest set of bearings available. I would not hesitate to use it at any undersize that cleaned up well to this limit.


I recommend following Bill and Royce’s advice regarding the 390. The hood and trunk lid won’t affect the value of the car in most cases, but there is a difference in the trunk lid between an early build '67 and a later build '67. If you’re going for correctness, you’ll need to be aware of that. The early-build '67 trunk lid inner rib is a 2-piece look, while the later-build '67 and all '68 are a continuous rib. I recommend putting your location in your profile; there may be someone near you that has a good hood and/or trunk lid.

Thank you all for the advice. I’m not a very experienced engine builder, but i’m pretty sure the crank is shot. It is scored pretty bad at several of the connecting rod bearing locations. Is there a difference between this block and any other 60’s era 390? The reason i’m considering going with a replacement motor is that I think I can do that cheaper than building this block back up from scratch. The heads and block are ok I think, I haven’t had them to a machine shop, but it seems I can get a rebuilt motor for around $2000. I guess i’m still asking my previous question, is there a good reason for me to keep this motor?