I'm afraid I have to agree with Roger, it's not pretty.
I would also question the story the past seller gave you about the recent engine and transmission rebuild. Judging by the build-up on the oil pan and transmission, I'm thinking the "rebuild" may have been in the late 1980's.
I'm not sure what to advise. Maybe chalk it up to a learning experience. Click and Clack from Car Talk highly recommend getting a "pre-sale" inspection. I think this hold especially true for a vintage car. That is IF you can find a shop that knows these pre-computer cars.
Bookmarks