If it was me, I would at least lift the head off before making a decision. If the block is cracked between the bores it will suffer from constant head gasket failures. If not cracked, probably worth a top end rebuild. Throw away all that emissions stuff and get back to basics. It's a carburettor car and there are no pesky electronics. Even if you swap out to a US V8 and tranny, there will be a load more needing doing, believe me. Front and rear suspensions is likely a must for a start. Then there will be rusty bodywork to be attended to.

 

If you feel so strongly about the car, my advice would be to learn what you can about her and do the work yourself. The Series II cars suffered from the effects of the British Leyland management fiasco, but can be made into the beautiful cars they were meant to be with a bit of attention.

The most important thing is the absence of rust. If the car is originally from Florida, you should have minimal rust to deal with, which can wreak havoc on the electrical system and your financial health!

Personally, I regard the cars 'converted' with cast iron push rod lumps to be worthless when it comes to resale. The only reason anyone would do such a thing is a lack of mechanical ability and for the amount spent on the 'conversion', the original engine and running gear can be repaired by someone competent. An unmolested, rust-free Series II car can be worth a fair amount if you look on Hemmings.

I'm sure to draw the ire of some on this forum, but spend the time to do the work yourself and enjoy the praise and even envy of others!

NBCat