Remember you have a Ford 5 liter (302 cu in) V8, parts aren’t as common as for GM V8s but they are out there. Those engines were used for decades in FoMoCo cars abs trucks. When I bought the cyl heads for my 4.3 V6 they were $275 each, gasket set was about 120 and new cyl head bolts were about 100. When I removed the heads the bolts were REALLY in there tight I used a 1/2” Dewalt impact gun to get them out. I cleaned up the block really well and used a thread chaser to clean out the threads in the block. The cleaning and prep work was what took the longest. If the cyls are rusted you may have to pull the block and get the cyls bored oversize and install oversized pistons. You can still find reman marine versions of the Ford 5.0. That might wind up being the best plan. If you do that I’d also install a half closed cooling system….
There is no question that the parts are harder to get for the Ford engine. The mechanic that has it thinks everything can be saved and reused at this point. It's in the process of being put back together for a compression test and then we'll go from there.
The cylinders had some rust but they soaked in a chemical I couldn't recall the name of and should be ok. It's still apart because this is almost a side job for the guy because most of his bussiness is mobile. Driveway/dockside/boatlift. I am ok with that because it's crazy crowed here now, more than the usual snowbirds are here. I have never seen it this crowded, even in March! My beneifit of waiting is reduced price to get it back in the water. He likes the boat and enjoys working on the Fords and I have no exuses for not taking care of everything around the house on off days.
As I was seeking out a mechanic familiar with this Volvo Penta setup, many said they wouldn't be interested because of the Ford engine. Like you, they said parts aren't easy to come by and not worth the hassle of chasing them down.
If it comes down to dropping a different engine in it, I agree with the cooling system change. I will keep this updated as it progresses.
Thanks for pictures Lou. Your finished product looks brand new. God has blessed you with some serious skills!