Okay, I've discovered a couple of things since then:

1. I don't think its the bearings. I must've put 10k miles on this engine before I noticed the issues. I think it'd be knocking heavily by now.

2. It uses some oil, but only at startup. IE, if it's been sitting for a time, there will be a puff at startup, but it immediately clears and it doesn't burn a drop while driving. I think oil is leaking into the cylinders while it's parked.

3. It seems to have good compression. Fires up REALLY fast and runs perfectly smoothly (by A-series standards)

4. the metal in the oil is NON-MAGNETIC

Here is a pic again, so you can see the color of the shavings:




If it likely isn't the bearings, what else might it be? The oil leaking into the cylinders sounds like a damaged guide/seal. Perhaps I should have the head rebuilt? I'd like to get this thing in better shape so I can start doing the mods I want to do. What else might it be? All I can think of is the gears on the distributor or oil pump being eaten up.

The car in question.

looks like bearings to me. Usually happens when low on oil tho. If you are reconditioning the head it would be a very good idea to do bearings too. its not hard to check and quite easy to replace them as well. You'd then know you had nice fresh bearings plus if it is the bearings you're doing more and more damage to the crank if you keep driving it!

There is some big chunks in there. You say they are non magnetic whick would rule out oil pump gears cause they would be steel. Could be the pump housing. If you still have the oil send a sample away to get tested if you could be bothered. You are on the money with the valve stem seals, they cause smoke on start up. As lagwagon is saying, if you are going throught the trouble of doing the head, might as well inspect/repair the bottem end as well.

Are the distributor gears aluminum or iron?

I'm probably going to end up just bringing it to a machine shop this summer. Knowing me it'll end up with a full rebuild.

I'm just weirded out by the fact that I put so many miles on before noticing the metal. I can't believe the rods aren't knocking like crazy by now.

I wonder what a rebuild will cost on an engine like this. Parts are still available readily and the engine is used in forktrucks still.

I had a rear cam bearing work its way out in a 1200 engine once, so non ferrous material in the oil does not need to be rod, or even main bearing material.

as someone who had a overhauled engine stuff up at 10k miles with little warning....

I don't think i ever had any obvious metal in my oil.

but,
I think if the oil pump housing is cast iron - trash it.
I had a valve guide that was worn that was missed.

The oil pump and dizzy drive gears are "steel" and wouldn't wear, they just snap.

could be bits of metal missed in a previous overhaul...

i've heard bearings can do that while disintegrating... but ever seen any that big...


hmmmm.... keep an eye on it... you may not get any warning.
i took the teeth off the cam and there probably wasn't that much metal...

This engine has never been apart/rebuilt. I was able to find this out from the original owner.