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My guess is valve float caused the ex lifters to collapse, severely reducing the exhaust lift and duration of the cam, which is what caused the overheating. The paste is probably pushrod tip material and lifter material where the two meet.
Be sure to check all the rockers, pushrods, valve springs and retainers. Replace any that don't even feel right when you hold them in your hand even if they check good.
I can't tell you how many people have replaced the minimum after a valve train failure only to have something else fail right away after they put it back together.
Look on the auction site, Kent Moore has 'Corvette engine cradles', along with a box steel tube will support the motor in a C5 with the cradle removed. Should take about 2 hours to remove the cradle.
I learned of the Kent Moore fixtures from Bret Bradbury(1000whp plus Texan)
They KM fixtures are almost mandatory when pulling a motor on the ground, ever try to install the cradle while the cherry picker is supporting the motor? the legs of the motor hoist make moving the cradle a pita.
After a few motor swaps you'll have the removal down to under 4 hours
You can create your own fixture if you have a table saw and a tape measure. Here's the one I made to support my engine in my cobalt when I had to remove the cradle to change the clutch. 2x6's and 2x4's screwed together and a chain. Worked fantastic.
Can you take an oil sample and send it to Blackstone Labs? For $25 they can tell you exactly what the metal composition is in the oil,p which should you narrow your list of possible failures.
Can you take an oil sample and send it to Blackstone Labs? For $25 they can tell you exactly what the metal composition is in the oil,p which should you narrow your list of possible failures.
This is great idea - I will do it for sure. Thank you!