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Suggestions to 'improve' a 1975 164F engine and suspension 140-160 1975

Hi, all. I'm asking for and welcoming all suggestions on what I should do to make a 1975 164 automatic (NON-california, no catalytic converter) more fun to drive. And it does not have to be state inspected -- it is being registered as a "collectable" car, so it is exempt from inspection for equipment (except that it has to have a working odometer) and for emissions as well!
[Note: I've been a Volvo owner since 1973 when I bought a new '73 164 -- it had lots of problems and I eventually traded it in and have happily owned over a half dozen 240s since, including 2 now (an '84 and a '93), but I've always wanted another 164 -- so now, thirty years later, as a "near retirement" present to myself, I just acquired this one. The body is in very good shape, even for a car half it's age, but the engine needs work anyway (mostly seals), so it's going to be a "project" car for me. I want it to both handle better, and I want to be much more powerful.]
So I welcome all advice on upgrading brakes, suspension and (of course) the engine. As a start, I'd like to rebuild the engine to be more like a Canadian B30E instead of an American F, and then go from there up to even more horsepower. I also have more interest in lower end torque (to tow my little boat) as well. This is a long term project, so I'd like to compile this information to make a "plan".
Don't be shy! What should I do (what would you do if you had the time and money)?
And to everyone, thanks very much, in advance.
Ken C.






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