OK, She finally fired up!
One step closer to keeping her all Caddy, well except for the carburetor.
At first she just spun pretty quick with not much compression and no combustion. The breather pipe was puffing like a locamotive, too. Obviously serious Blow-By.
A friend at my local post office told me about an old tractor they got running after 10 years of sitting. He said that the rings had lost their seal to the walls of the chamber and collapsed a little because the oil had receeded and there were open exhaust valves. Probably a thin layer of rust in there and a couple of sticky valves.
Applying this theory here, I had to take out the plugs, pour about an ounce of Marvel Mystery Oil into each cyclinder and put in some fresh plugs. I then put on a 3300 SA Carter AFB I had laying around, poured some gas in the carb and cranked it for a while. Finally fired up after cleaning the plugs a couple of times. Looks like it needs a fuel pump. Definately not pulling fuel up from the can. Might be why the carb is missing, probably thought that was the problem. I made a gravity feed with a funnel of gas. Now she'll run in spurts of 30-60 seconds or so.
I made a couple of YouTube videos:
http://www.youtube.com/watch?v=wjCAhnNjJ2o
http://www.youtube.com/watch?v=ftFCfkO4OSE
Anyway, still haven't determined if the heads are/head is cracked or why there was about a half quart of water in the oil before I changed it. Maybe condensation from being open up top for so long?? I'm hoping.. The good news is that there's no more in there now than there had been before I started messing around with it.
There is antifreeze, however, leaking out from under the engine. Freeze Plug maybe? I'll see today. I'm changing the oil with some cheap/thin stuff and quarter of marvel oil to let it run for a few hours then I'll change it again. Anyone have any other suggestions for conditioning this old engine? It's like waking up Rumplestillskin..
Also, anybody know about the freeze plugs on a Caddy like this?