Ok so without a parts V8 my hopes of upgrading from my I6 have kind of diminished. But I was wondering how beneficial rebuilding my ancient I6 would be? I know my engine as is burns oil, which would account for some loss of power. Other than that could a rebuild help? Maybe a rebuild and a new carb?

 

an I6 rebuild shouldn't have much of a price difference from a V8, any reputable engine shop.

 

where are you from? if you are close to southern cali i know a good place to send your motor to.

 

Well I've asked about a conversion to V8 before and the people on this site seem to think its not worht it. Somethng about different axels and such? And I live in Northern Cali... I know places I could send it too, I just am wondering if I can really gain any power by rebuilding it?

 

Yes, you will feel a big difference. You are losing compression with worn out rings and such. Also, there are a butt load of add on's you can get to get that I6 up to the same horsepower as a stock V8. Geterdun.
Here is a site for 6 cylinder Mustang guys.....it has a wealth of information on it.
http://home.cfl.rr.com/mustangsix/