Thats alot of miles for and old engine. Didn't engines at the time need valve jobs frequently?
My dad has told me stories about doing valve jobs @ 30-40K miles in cars back then.
He lost a rod bearing in a 55 Dodge with a Hemi at a very low milage back then. 20k I believe it was. [/quote}
Neither my Dad or I ever had to have a valve job on a car built from 1950 or later. Matter of fact, my 1954 Ford V-8 had solid lifters that sometimes required periodic adjustment to compensate for wear. Mine never, in 140,000 miles, got noisy or required adjustment. That was the first year of the overhead valve V-8 for Ford, and when it first came out, they had a lot of lifter failures caused by improper heat treatment. I did not get mine until August of 1954, and they had obviously cured this problem by then.
Heck, when I was in the Army, I was doing 35,000 to 38,000 miles a year. I would have been having to get a valve job every year if it was required every 40,000 miles or so.