My original plan was to overhaul the engine - new cylinders, new lightweight starter, alternator conversion... the works.
I got as far as getting the crankcase overhauled by Divco (with the Heli-coil'ed studs) and the cam/lifters/rockers/rods given a clean bill of health. That's when the crankshaft came back as N/S because of a crack.
And then my wife and I found a house we liked, and bought it.
It's now coming up on two years since I last flew the plane (ever wonder where ramp queens come from?). Coming up with the $13k-$15k to overhaul the engine is not going to happen anytime soon.
So now my thinking is to just get back in the air. Replace the crank, put on four overhauled cylinders and reuse my accessories as is.
So, I'm at a crossroads - a new-limits overhaul certainly has peace-of-mind and curb appeal, but frankly the cost exceeds the value of the airframe.
A used crank and overhauled cylinders is less expensive, but obviously won't last as long. I'm guessing such a rebuild would be $4k. However, figuring my plane before in running condition was worth $15k, I don't believe it's value would be all that affected by the lesser rebuild.
If I can't find a used crank and have to put a new one in, then I'm adding up to $1.5k to the rebuild price. At that point it might make more sense to buy a used, running engine for $8k and hang it on the nose. And then sell off the reworked crankcase, cam, lifters, rockers and rods from my old engine. (but frankly, I hate selling stuff - running the ads, taking calls, haggling, etc.)
In the end, wife and me and baby makes three but I'll have a two-place plane. Maybe I just sell the airframe as is (what's an engine-less 150 worth? $4k?), and put that towards a Cardinal. But I'd hate to add another 150 to parted-out pile. And once a plane is gone, it's easier to justify not replacing it....
Lots of choices, no clear winners.
