Good Thursday evening everyone!
Well, I think my 56 may finally be lined out so I thought I'd respond with an update since so many were kind enough to offer up suggestions.
I know a top notch mechanic who owns his own business and is a true mechanic. He hasn't worked on too many 56 292 engines, but between these replies, my 56 Ford Car Shop manual, and talking to Mike Suter on the phone, he was able to identify the issues and get the car dialed in.
Here's the issues he found and fixed. Keep in mind the person I bought this car from told me the engine had been rebuilt 250 miles before I bought it.
First, the timing was way retarded which explained the backfiring in the carb when the car was hesitating and stumbling.
JT (the mechanic), using a timing light and vacuum gauge, got the timing set at 10 degrees initial timing with total of 36 degrees.
Next, in the short time I have owned the car, there was a pretty loud tapping in the right head so JT looked into that and found the valve lash to be wrong, and there was still built up carbon around the valve at the rear of the right head and due to that, the back valve was not getting oil and was starting to guald.
I am glad he decided to look into that because I would really be ticked off if the engine would have dropped that valve. He got the valve lash set up properly at .021.
He also got the carburetor mixture screws set properly using the vacuum gauge as per Mike Suter instructions.
Another thing he did was to move the fuel line up off the intake manifold some to keep the potential of vapor lock down.
The car runs so good now I can hardly believe it. There is still and ever so slight hesitation but Mike suggested that the spark plugs could be too cold so I am going to try some Autolite 46's in it and see if that helps. Even if it don't, I can live with the ever so slight hesitation because it's barely noticeable now.
At the end of the day, I have spent an additional $1,000 on this car that supposedly had a rebuilt engine. The largest cost was to fix oil leaks that it had recently, including replacement of the rear main seal.
When the pan was pulled off, there was still sludge in the pan. And now with the discovery of carbon build up still in the heads, I am having a difficult time believing the engine was rebuilt, even though the previous owner provided an invoice for a complete rebuild.
I called the machine shop that did the work in the invoice (Magnum Machine in Chesapeake, VA), and told the owner about the problems and about the sludge and carbon, and he said per the invoice, he did a complete rebuild and the engine would have not left his shop like that.
So, I have an invoice for $2,500 worth of engine machine work and and rebuild. I just don't know who's engine it goes to!
Kevin