ok well I only have 30 psi compression in number 6 cylinder so I pulled the valve cover and have zero clearance on #6 exshaust valve. I took a bore scope and the number 6 piston has a lot of oil sitting on top of it. What should be my next step? This is my first project truck and not very much of a mechanic but I'm learning. So I guess what should I do next? Should I pull the heads off?

 

Valve will be found to be burned. It is almost never possible to restore good compression by simply restoring correct valve lash.

If you want your truck to run on all cylinders, a valve grind is in your future.

 

Yes, you must remove the heads (for the valve grind millball describes). In fact, the valve may not be usable, but they don't cost much. The only way to tell is to remove the head, remove the valve, and examine the seat.

You may not be much of a mechanic, but you knew enough to check compression, check valve clearance, and use a borescope. I'd say you're well on your way to besting the rest of us.

 

what kind of money am I looking at to repair this? I've considered attempting the 3.4 swap seeing how I have a 3.4 sitting in my dads shop but I'm not sure which way is gonna cost the most money.

 

If you do the work yourself, except for having the heads reworked by a machine shop, you might get away for $800 or a bit more, even accounting for some new timing components.

If you've got a 3.4 in hand and you can do that work yourself, I'd probably do that. Shop labor for either option runs prices up. Bigly.

 

I'm sure between me and my dad we could do the 3.4 swap. He's a oilfield mechanic by trade. What would it cost to do the swap if I already have the motor?

 

You might want to start here: https://www.yotatech.com/forums/f160/
(It always seemed a little overwhelming to me, but my Dad never had a 3.4 sitting in his shop.)