1980 240D Head gasket?

[arpy15]

I just bought this 240D a week ago and don't have any background much on the car, it has been sitting for a while. The day after I bought it I drove it to work and back (About 70 miles) then took it to get new tires. When I got ready to come home, it had a noticable lack of power and a bunch of smoke! I had looked at the fluid levels the day before and noticed the anti freeze was a little low, when I opened the radiator cap there was no difference in the level but oil was floating on top which made me think Head Gasket. The oil pressure gauge also is running at the very top (Around 3). Is the oil pressure problem related or a seperate problem? (It may be the gauge itself, the fuel gauge doesn't seem to work either and not really sure the temp gauge is accurate but seems to be ok hovering around 80.) Is there any other problem that may cause these type indications? Thanks for any help!

[Ken300D]

Yes, my best Internet diagnosis for this condition on a 240D is the head gasket.

The oil pressure indication you see is quite normal. The meter is mechanical, and should peg when running along. Really it should peg if you just gun the engine a little off idle.

Sounds like a relatively mild case but you should still take care of it soon. It will give you the chance to check out other items like timing chain stretch and the condition of the valve train, etc.

Good luck - at least your car is fairly easy to work on.

Ken300D

[arpy15]

Thanks Ken, I have already taken everything apart to a point of pulling the head. Just waiting for a head gasket kit before the final dis-assembly. I needed a little Moral Support!