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One thing to consider, @ that mileage there is a very strong likelihood that the valve guides will be worn. If the car lived in a city/urban setting (lots of stop/go, sitting in traffic) they will definitely be shot. You can band aid the problem w/ a fresh set of valve guide seals but expect to do heads by 250 @ the most if you want to keep your car running as it should/like new.
Also you will Want to see receipts that the transmission and fluid has been changed regularly.. If not there is a strong possibility you won't see many more miles from that box.
Lastly, take this car is for a PPI to someone who is familiar w/ 126's/V8's..it will be the best 100 or so $ you spend on the car.
Jonathan
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