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Yes, I would recommend it. With all of the jockeying your going to be doing to get the engine and trans out, probably next to impossible to do it with the hood on. You know it is always the plan to do it as simple and smooth as possible but it "never" turns out that way.
Terry
BTW, don't chance damaging the radiator by leaving it in. Pull it as well.
The hood comes off with 4 bolts and weighs about 7 lbs, easy to remove.
I removed the water pump fan/pulley assembly and pulled the radiator/support out as one unit. Three or four bolts on the inside of each front fender, two or three bolts across the bottom of the car and it is out.
If you pull the engine/trans as one unit, once the engine is hanging in the hoist, you may have to jack up the rear of the car to get clearance over the front fenders. Depends on type of hoist you use.
The manual M20/21 only weigh about 75lbs, so not hard to separate with engine partially pulled.
Thanks for the info in the past I usually separate the 4sp from the engine. I will do the same as well as pulling Radiator,fan and hood. I would love to pull the body off but it just looks intimidating
I would highly recommend taking both out. They are not tough. As stated, hood is 4 bolts and the hold up bracket. The radiator has 2 larger bolts that are accessible from the bottom, 3 inside each fender well, 1 bar that comes from the front of the car and do not forget your headlight grounding wires if they are still connected your radiator like my 69 is. I put in my motor and tranny from the top with the radiator and hood off. Lots of room once they are gone. Make sure you get a boom that is long enough to reach your engine. Many are too short and require side dismount. Tougher to pull from the transmission.