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Is anyone actually able to maintain the desired level of coolant in their reservoir? Every time I fill to the recommended fill line the coolant blows out the overflow. So I'm going to let it find a hopefully happy level then check what that is. The engine stays around 150 to 170 according to the water temp guage. I have an aftermarket Morosso high flow water pump witout the recirc fitting for the short hose from the intake. I'm not sure if its creating to much pressure and thats whats making the coolant push past the new radiator cap. Has anyone had a similar issue?
Is your new radiator pressure cap the correct pressure rating? If it's a lower rating it will alow the coolant out sooner.
Are you sure the cap is the correct type of cap? There's two kinds of pressure caps...for a closed system and open system. The closed system is where you have the overflow tank and the cap allows coolant back into the radiator. An open system is where you simply have an overflow hose where the fluid simply squirts onto the ground under the car when it overflows and doesn't go back into the system. Your '69 doesn't have an overflow tank...it's an expansion tank and has the radiator cap on it (at least my '69 does). The radiator itself has no fill tube or cap. It's an open system and requires the correct type of cap.
Another thought...did you have this problem prior to the new cap or the hi-flow water pump or the elimination of the bypass hose? If it manifested itself only then, look to those.