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head gasket 1987 245 5sp - bad?? 200

Greetings:
I have run a 1987 245 B230 5sp perhaps 1 month and 500 miles...car sat 2 years prior. Prior history is unknown old owner was cheap and kept no records. Today it let loose with enormous clouds of smoke, lost power, and I pulled over. After 30 minute rest it would crank but not start. It has been very good about starting but runs a little rough. Since I got it I did oil change (Walmart) main pump, relay, and fuel filter change, to get it running. A very slight coolant loss, some blue smoke on accelleration but only intermittent and modest. I ran 3 cans of Techron injection cleaner and 5? tanks of good fuel through. Todays was more white. I have added a quart of semi-synthetic - which also cleans engines, have not changed the flame trap, have added new exhaust and tires. So it is towed to indy shop. NOW...is this likely a head gasket? How many hours to replace? Local rate is $70 per hour. What else can be done at same tim? Can I replace piston rings easily? What should I order (shop lets me supply my parts...but they are slow). I'm thinking head gasket set, hepu water pump, timing belt and tensioner, fan belts, valve job at machine shop, water hoses, all the things that will be taken off anyway and can be replaced w/new at no extra labor cost. Thoughts?






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