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Not quite that simple. You can shortcut the conversion but it is said the best way is to also change out "O" rings, flush everything because R12 oil is not compatible with 134a, maybe change out dryer, etc. I'm sure others know more about it than I.
Don't understand the "or" part. If rear seal is leaking, it will have to be fixed or a new compressor installed regardless whether you convert or not.
If you use the search function at the top of screen, you will find lots of threads that discuss this. I think most guys who have done the conversion are happy with it. You can always sell your R12.
Terry
I was told to stay with the R12 if you can. The 73 was the first year that GM used the VIR valve and that it would not work well with R134.
I know others have changed and are happy with it so I do not know how true the statement is.
I had to totally rebuild my system last year so I tossed everything for a updated system. The only thing I did not change is the evaporator. New system install
in my 82, all i did was put the new fittings over the old ones on the pressure lines and changed the dryer and vacumed the system and recharged with 134a and it worked great.