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All, I have a 1978 C3. Recently the hood latch broke due to a single stripped bolt.
The hood is obviously fiberglass and I an not sure what my options are for replacing / fixing this. Do I repair the hood's fiberglass? Or do I replace with a gas / hydraulic configuration?
If I understand what you are saying correctly, where the bolt screws into the hood is damaged? Either way, prop or gas, the bracket needs a place to rebolt to, so that area in the hood must be repaired. For the record, I removed the prop and went with the gas shock. I really like it.
I bought a strut rod from Autozone that came with mounting studs for 25 bucks. Drill out the pivots where the stock support rod attaches to the both the hood bracket and the fender bracket. Enlarge the holes on the brackets to fit the strut mounting studs. Pop the strut on and you're done.
I would stick with the stock unit. I've seen too many problems with people using these on their projects. It puts unwanted pinpoint pressure on the panels when they are shut and then the panels sit too high.
I just worked on a mustang with this same exact problem.