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rebuild it.
If you can find a cheap 302 for a core a reman is about the same money, just an idea. When my 2.8 eventually departs it will not be replaced by another. The darn little things can hang on the edge of death seamingly forever though, at least mine is.
thats about right,i asked last year and it was right at $1500.is your engine beyond rebuilding?
The valve seals just seal the oil and keep it in the head, the actual face of the valve is responsible for sealing compression. The intake/exhaust port is below the seal, so if it was up to the valve seal to hold it all back you would be putting pressure and vacuum through both the carb and exhaust manifold which wouldn't work that well. Aside from setting the valves you really won't see much with just the valve covers off.
with valve covers off,check for broken valve springs,bent or loose push rods,look between the springs at the seals around the valve stem,are they intact,broken and partially missing pieces,pieces laying in lifter valley.gently push on them w/small pocket screwdriver,if they are hard and brittle they need changed and good time to take off head and check valve sealing surfaces on intake and exhaust vaves.look at the cylinder walls,are they scratched or are they in good shape.if they are in good shape you might be ok and just need to go through the heads.run a compression check before you do anything though.fwiw.
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