Now as far as the crank pully goes. Yes it is 2 part and yes they fail.
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That explains the crank pulley then. Fords are two part too, in some applications, and do the same thing.

We'll have to check everything else when the motor gets opened up. It'll be interesting to see what we find - holed pistons, cracked rings, broken valves, bent valves, or all of the above! Maybe we need a lottery and a $10 prize!

R