After a brief look-over of the engine, we decided that the best course of action was to pull it out of the car and have a thorough inspection done at a machine shop. With the large amounts of rust in the valvetrain, the poor condition of the coolant in the block, and the sludge evident in the oil pan and side covers, a full rebuild was likely going to be the best route. Unfortunately we were right. The head was cracked, cylinders ovaled, oil pump worn out, and the camshaft was shot.