bassmun
Member
These guys are all giving you good, accurate advice. Is the 383 the original motor in the car? If yes, then definitely rebuild that one & follow the advice above. If it is NOT the original motor, you might consider seeing if you can find an aftermarket "factory stock" rebuilt engine, either 383 or 400, and swap them out. You can check your local parts stores or search online.
Hey PurpleBeeper, yes this is indeed the original motor. My father was the original owner, I still have all the paper work from when he bought it. So, I think your advice of going ahead with the rebuild is a fine idea!