Join Date: Mar 2010
Location: Stoney Creek, Ontario
I'd freshen the engine first. 337,000 km is getting up there for most V type engines and definately borrowed time for I-4's. You may find that may be just the power increase your looking for and if you want more, than a fresh engine is likely to be able to handle power increases better. You really don't want to burn a hole through an old head gasket and do even more damage.
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The Past - 1976 F-350 Crew Cab 1992 - 2006 RIP
The Past - 1995 F-150 XL Enforcer All Gear Drive 2008 - 2015
The Present - 1993 F-250 XLT Turbo Diesel Super Cab 4x4 2015 - ?
The Future - Who knows?