I have a 1968 170 that is currently in my son's 1964 1/2 mustang. It is smoking on initial start up. I am guessing that the culprit is worn valve guides. I picked up a 1965 170 assembly off of craigslist out of a Ranchero for very little money to use as a core to rebuild and replace the current head so I would only have the car down for a couple of days. When I pulled the valve cover off of the 1965 engine I found that it had adjustable rocker arms so I am assuming that it has solid lifters. The rocker arms on the 1968 head are non adjustable and it has hydraulic lifters.
The question are:
1) If I use the 1965 cylinder head and get a valve job and replace the guides, can I use the 1968 non adjustable rocker arms, shafts and push rods from the hydraulic lifter setup?
2) If I decide to rebuild the 1965 block and head, are there oiling provisions to install a hydraulic cam and lifters or will I need to stay with the solid lifter set up?
3) Should I just find a 200 engine and rebuild it instead and paint it like the 170 (red and black)
The car is a driver but we are trying to make it as correct as possible.
Thanks in advance,
Kevin
The question are:
1) If I use the 1965 cylinder head and get a valve job and replace the guides, can I use the 1968 non adjustable rocker arms, shafts and push rods from the hydraulic lifter setup?
2) If I decide to rebuild the 1965 block and head, are there oiling provisions to install a hydraulic cam and lifters or will I need to stay with the solid lifter set up?
3) Should I just find a 200 engine and rebuild it instead and paint it like the 170 (red and black)
The car is a driver but we are trying to make it as correct as possible.
Thanks in advance,
Kevin
David (CZLN6) brought up a very good point about that it might be the valve guide seals, it's a very common problem with many old engines. The good news is that it's a fairly easy fix that can be done in day or less (depending on your tools and skill level) and with the head still on the engine in the car. Good luck 
