sounds about right. I'd prolly check the valves while its off though and do a grind and replace any weak springs and or worn valves.
I don't want to question Roy much but I thought it looked like a leaky freeze plug. It also looks like a rubber squeeze it freeze plug replacement.
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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.  [SIGPIC]
..I also have a 427 Cobra replica with an aluminum chassis.
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