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Why don't you get the NCRS guy you talked with to check out the car with you?
I tried. I offered to pay him. He runs a restoration shop and is one of four guys. He said he was just too busy this time of year to go. I didn't press him.
I think you made the right decision to pass on the car. Les in his posts pretty much said it all, as the other guys here.
Check out this nice fresh looking Corvette engine:
In reality it is the original correct engine from my '69, cleaned up but with ~132,000 miles on it. Never been apart, and ran well when I removed it, but definitely in need of a rebuild. It stays with the car when I'm looking at the grass from the other side - the root side.