With the dropped valve seat, and signs of other valve seats also on the verge of dropping, plus what looked like blow-by on the pistons, it was time for a rebuild.
Funnily enough, the original owner had the engine rebuilt after 16 years and this re-build was after the same time period!
A vast list of items were procured for the engine re-build, and other things that could be done while the engine was out:
2 x cylinder heads
4 x pistons and cylinders
4 x fuel injectors
Fuel vapor hoses
Fuel cap seal
Fuel tank inlet hose
Shift rod coupler
Shift rod bushings
It all took a few weeks to do, what with getting the pieces in form suppliers etc, but it all came together in the end, and I picked Harvee up on 20th July 2012!
Of course, there's always something - in this case I was taking Gininda to work in Harvee and we could suddenly smell gas, which isn't a nice moment! Luckily we were right by her work, so pulled into the parking lot and checked the engine bay - gas spraying out of the fuel line! I quickly shut off the engine and the flow stopped - called a tow truck and back he went to the garage!
They checked it over and found that a piece of fuel hose wasn't quite long enough, so they replaced it with a longer bit and clamped it on fully. Sorted!