You have
oil analysis indicating metal generation. You have an
oil slick from the
exhaust. You have a desire to learn
diesel engine mechanics.
Repower requires lots of costs you haven't thought about in terms of mounting,
exhaust routing,
water routing,
engine controls, engine control
panels etc., etc.
I would ask myself some questions like:
1 - How long am I keeping this
boat?
2 - What is the condition of the externals -
alternator,
water pump, exhaust system,
water system etc.?
3 - What is my intended use of the
boat? Long range cruising or getting on and off the
dock.
Option 1 - On and off the
dock use + shorter
ownership horizon? Do nothing, maybe have the injectors cleaned for peace of mind and live with increasing metals and an oil slick. Couple more years use? If you
overhaul it and sell within a couple of years you won't recoup the costs.
Option 2 - Heavy engine use + longer horizon + pretty good accessories -
Overhaul it. You can
research all the
parts costs before you spend a dime. Tear it down and see if the internals warrant a
rebuild. Use a local machine shop for the
head, block and crank
work. Cracked
head, worn or cracked crank, shot water galleys in the block = Option 3.
Option 3 - Longer horizon + heavy use + crappy accessories + shot
core =
repower. Go with a modern engine and do lots and lots of homework on the
installation. Don't forget mounts, exhaust, maybe rewiring, water inlet, engine controls, engine
control panel etc...
If you do a significant amount of the
work yourself Option 2 and 3 don't have to be as expensive as if you farm it all out.
In regards to unfinished projects. You definitely have to clear the decks, clear a clean effective workplace and have the
money ready to see it through. Stalling on an engine overhaul and repower could leave you with an engineless boat, no
money and no desire to finish or no way to go forward and no way to go back.