Premium Gas v. Regular Gas

Not quite. Everything had valve train lubrication. The system you speak of was usually to add an oil filter, which was optional into the mid fiftys.

However, some engines did have troubles getting oil to the valve train. Ford 292's and 312's, frintace. Seems the oil came up through the block, and needed to pass through a hole in the head gasket. There was only one hole in an otherwise reversible gasket. If you had a valve job, and the mechanic put the gasket on backwards, no oil got up. So, rather than do all the labor to replace the gaskets, the mechanic would add outside plumbing to the block. They would plumb the oil line in to one of the rocker cover studs, since the studs also held the rocker arm shaft.

Otherwise, I agree with Trvlr2.

Um, well OK, if you consider oiling a piece of felt material every month or two and putting it under the valve cover, lubrication!
Seriously. Unless , of course, my memory is getting like the rest of me. Oddly, I clearly recall a 1950+- year or so Chev OHV 6 with those options, and being perturbed at the PP arrangement. I checked it out with another old time automotive machinist today. He concurs.( Nothing at all wrong with a by-pass filter arrangement, it can remove more crud than full flow. A combination of the two yields best filtration)
I cannot recall anyone re-lubing the felt under the valve cover, tho. I suspect I would have gotten that job, as well, as it is messy.:D
To the subject of valve seats- modern cast iron heads can have the seat area flame hardened, which saves money on the original machining/manufacture. These hardened areas compare very well to the hardened seat inserts-Until overhaul time, when seat inserts may have to be installed to keep combustion chambers reasonably factory spec. Not too critical on gas engines, but very important to diesels,esp.those of modest displacement.
 
Chevy sixes all had valvetrain lubrication. It is internal and prone to plugging. Outside plumbing was easier than tearing motor apart.
 

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