Mechanic said he could get it running "on three cylinders." So maybe there's hope the bottem end might be ok. Mechanic also said I might be able to check the bottom end by pulling the head then pouring oil into the cylinder bores and watching how fast it drains down into the crankcase to get a general idea if one or more of the rings/bores went bad. Too bad the 617 won't fit in there. I think I might just keep it around in my shop for a few years and tinker. Might as well. Thanks for all the tips!

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1972 280SE 4.5
1984 300SD, 250K
1991 300SE, 89K
1992 300D (330K miles when KIA'd by mother-in-law 8/10/09 - still sitting in my barn)
1994 E320, 109K
1995 E420, 60K
Proud Member of the Mercedes Benz Club of America - Idaho Chapter