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That engine DOES NOT have 375hp. It is a low compression engine with some worn piston rings. You probably will need to rebuild it if you want to make anything out of it. My guess is that it is a stock SB 350 with 8.5:1 compression--rated at 270hp in '71 and rated at 220hp in '72.
i don't see the point of a leak down test.
if u r in need of a free motor, put it in and drive it.
if u want to rebuld it now rather than later, that makes sense too.
in '75 i put a $50 motor in my 61 and drove it 10,000 miles. never did any tests, why bother,
i just wanted to drive my 61
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