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Well, I finally got a chance to let the '74 L82 idle, and it idles smooth. However, a lot of smoke is coming from the engine compartment and it smells like oil burning. So what should I do? Can I just have the top end rebuilt or do I need to pull the entire engine. its weird, because it starts right up, and idles nice. I havent done a compression test yet.
Before most on here can help you, you will have to film a full length feature film with sound, give all specs of your engine including can lift,
Use arrows to point exactly where the smoke is coming from and be prepared to prove it with a 25 picture portfolio!
Or you could check valve covers leaking down on the exhaust, distributor gasket to the intake is dry, rear intake seal/gasket is not blown out, that a PCV valve is hooked up to the valve cover and the carburetor and not just hanging loose, or a bad deal would be a leaky head gasket letting water seep onto the exhaust manifold.
If the smoke isn't coming out the tailpipe you have an oil leak (or several) to find. Don't panic... get some Gunk (2 cans), protect the carb and distributor with plastic bags and degrease the engine well. Now start it and let idle while you use a flashlight to look for new drips. If you have trouble pinpointing the source go to the dollar store and get a can of talcum powder... dust the motor and look for the wet spot. Gaskets are cheap and easy to replace using only common tools; and the engine will look much better when it doesn't drool all over itself any more.
If the smoke isn't coming out the tailpipe you have an oil leak (or several) to find. Don't panic... get some Gunk (2 cans), protect the carb and distributor with plastic bags and degrease the engine well. Now start it and let idle while you use a flashlight to look for new drips. If you have trouble pinpointing the source go to the dollar store and get a can of talcum powder... dust the motor and look for the wet spot. Gaskets are cheap and easy to replace using only common tools; and the engine will look much better when it doesn't drool all over itself any more.
I have been using the same trick for years, but I like to use the spray-on foot powder, you can get a nice, thick, even layer of white powder, makes any sort of leak jump right out and say "OK, now you know where I am, so fix me!!!"
Therein lies the rub...I am afeared CG has degreased and called the fix good... it is only good until whatever was leaking pukes oil on whatever is hot enough to make it smoke again. Hey Classic... find and fix the leaks before you burn your car down. Yes Virginia... Plastic cars catch fire and burn... vigorously.