Blown head gasket? How far should I go?

[72Hallett]

I think I have a blown head gasket and I am wondering how far I should go while it is apart. My Boat is a '72 Hallett v-drive with a 454 (Block casting # 3999289, Head's are 3964290 Oval port closed chamber 101cc chamber). I'll probably keep the boat for at least 5 more years. The engine was rebuilt in 1984 and rebuilt heads is 1992. I bought the boat in 1992 and ran the heck out of it and have had very few problems until now.
The problems started after my water pump impeller went out and glogged some of the plumbing. I replaced the impeller and back flushed the system and went back on the water. Engine ran great but when I put my foot into it (ie above 2500rpm) it would start to heat up. I never let it heat back up above 220, but later in the day it started to run a little rough. After a compression check we found that the #2 and #4 cylinders had only 75psi.
Now the question. If it's just the head gasket, should I just have them check for cracks, replace the gasket and slap it back together? Rebuild the heads, and if so can the heads that I have be worked on? (3964290 Oval port closed chamber 101cc chamber) or Rebuild the motor so I don't have to worry about it?
Currently the boat is at Campbell in LHC. They told me to do the heads would cost around $1500. To rebuild the motor $5500.(In fairness to them he said he was estimating on the high side) Any suggestions on what to do and who to do the work would be much appreciated.

[V-DRIVES RULE]

if the motor runs strong just slap a set of gaskets and go do a compression check and run it

[72Hallett]

Thanks for your input. Any suggestions on who can do the work in Havasu or So Cal?

[CircleJerk]

Ohh, those are high prices. Remove the heads yourself and have them pressure checked for cracks (25.00) and straightness. Install the new gaskets and possibly new arp head bolts. Also keep checking the pump by pulling the cover and see if another impeller blade appears. Sometimes more just show up. Make sure your return or exit water line has no restrictions or blockage. You can do the job yourself for under 200 unless more damage is found.

[78Southwind]

ttt :cool:

[63stevens]

I would pull the heads and have them freshened up. Surfaced if necessary, check guides and springs and do a valve job. That should cost you less than $500 and put you back on the water for many more years to come.

[72Hallett]

Thanks for all the info. I spoke with Lew Larson (Larson Marine) who informed me that the heads that I have are from an LS5 engine and are actually pretty good heads even though the chamber is only 101cc. He said that they create quite bit of compression with a flat top piston which would work well with a v-drive. I think I'm leaning toward just redoing what I got. Thanks again.

[ColeTR1]

if the motor runs strong just slap a set of gaskets and go do a compression check and run it
This is what I would do. Matbe have the heads decked.