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A buddy in town here had a '72 auto as a daily driver. He must have rolled the odometer at least two times. He recently put in a ZZ4 before he sold it.
Since the VAST majority of C3s came with the tried and true 350, there's not much difference in durability/reliability. The L82 is probably a BIT more reliable than the LTI; it stands to reason that the higher the compression ratio, the more volatile an engine is (but since high compression creates more power, it's worth it). The only C3 engine I would call a piece of crap is the 1980 California-only 305. Most late 70s-early 80s 305s are both weak AND unreliable.
Regarding engine life, what does anbody think of the oil additives, for example Slick Fifty?? Are they worth it? Or just a waste of time?
The general consensus here is that slick fifty is nfg, most recommend using a good quality non synthetic racing oil and or adding oil additives to improve the lubricating qualities of the oil.