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Cylinder Heads: Crack around the valve guides

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  My 65 GT Fastback is all original and the engine has never been opened (the car has 110,763 miles at last fillup). I have the original window sticker, invoice and owners manual. 
  My 66 GT Fastback with the Pony interior 'K' car is all original and the engine was rebuilt about 1992 (this one has 79,011 miles at last filup). I have the original owners manual and the first Cal registration showing an October, 65 date registration date.
  Is a big deal? You bet! Does it add value? It do.
  My 'driver' is a 66 hardtop (196,017 at last fillup). Nothing special except I added a 4 channel stereo.

My point exactly.  You will not part from your Mustangs during this life.  So, who give a rat's ass how much they are worth?  Maybe your grand kids?
And when your cars reach a certain age and mileage, you are going to have to park them if you wish for them to hold their value.  I will be driving my old C code coupe the day I die, mainly because I really enjoy driving it, but secondly it is cheaper to drive it than buy a new car, and I can actually work on it. 

The reason i asked about value was because a friend kept implying that's its a waste of my money to rebuild when i can buy a crate for lesser cost and time.  I'm actually willing to put the money into it cause it's part of MY experience in restoring a car.  Plus i'm in no rush, so i'm gonna slowly rebuild the block and heads and work with the guys at the shop. 
First step, thermal clean and shot peen......

Yeah, talk with the machine shop owner and get everything settled regarding what they will do and what you will do to rebuild that 289.  Basically, all the machine shop has to do is to clean up the block and machine the crank and bore it, plus rebuild the heads.  The rest you can do yourself. If you use the same pistons and rods, basically all the rebuild kit will include are bearings and gaskets.   Piece of cake.   


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