Pulled the valve cover...

[scjarena]

I pulled the valve cover and discovered a loose pushrod. I'm surprised to find it wasn't bent. I put it back in and turned the engine by "hand" No stuck valves, everything looked clean. There might be some hope on getting this thing running.

In the picture, you can see loose push rod, third one up from the radiator. Think the valve stuck at one time and caused this?

 

[YkDave]

its definitely a possibility, and not uncommon for an engine that has sat for most of its life.

Mine popped a pushrod out shortly after i got the truck, the govenor wasnt working and the trans didnt like to shift until the engine was ready to explode. could have been a sticking valve or valve float, regardless, just drove it home and popped it back in and was good to go LOL

also, if they are lashed pretty loose, its not impossible to knock one out during normal operation too