I have a 72 280CE with a 4 speed. It's fuel injected so it makes about 185hp and the 4 speed makes it quite nippy. If you want to go with a more modern engine from a 300E, I have a 5 speed setup that will mate up with the M102 and M103 engines. I wanted to install it in my 280CE but the tranny will not work the m110 motor.
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With best regards
Al
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