Early blocks thru 1948 had the distributor mounted to the front of the camshaft. These distributors had dual points, and were favored over the later side mount distributor used from 1949 up which only had single points.
The early blocks thru 48 had the top radiator hoses coming into the the top center of the cylinder heads The later blocks, 49 up, had the hoses attaching to the upper front of the cylinder heads. The later heads were the 24 bolt heads, and used bolts. The earlier blocks used studs for the heads. They were sometimes a real bitch to get off.
The early blocks were desired for racing as the valve angles in the block were different due to the bores, and gave a little bit of advantage for fuel/air flow after relieving the block.
All flathead blocks were prone to cracking from overheating with the later blocks being the easier to crack. The cracks occur in the block between the valves, or out from the exhaust valve seat. Sometimes the valve seat only would crack and the block still be good. If the block itself cracked, it was toast. Nowdays they can repair these cracks. Don't know how costly this is tho as I never had it done.
All engines were also prone to vapor lock. The problem lies with the gas line running from the fuel pump to the carb. The fuel pump is located in the rear of the intake manifold of top of the engine. The engine heat would keep this line very hot. To cure the problem we used to use a coil of copper tubing in place of the steel line to dissipate the heat. The coil looked like it had been robbed from a still.
These engines tended to run a little hot. It was deemed that with the two water pumps, one in front of the block on each side,(the early/early blocks had the pumps in the heads themselves)the water circulated too fast not giving it time to cool. I would say this was probably true as on racing engines we placed a washer inside each water hose where it clamped to the head. The washer reduced the opening to 1/2 inch. Some went another route and ground off every other impeller blade on the pump, and drilled a small hole in the remaining impellers. Both methods cured the overheating.
If you really want to give it power, get a crank from a later Mercury block. They had 1/4 more stroke and will drop right into the Ford block. They are the same actually except for the stroke. You now have a torque monster.
shady