Good afternoon
Depends on the overall health of the engine. For example:
- Does it burn excessive oil and or low oil pressure. Is there mixing of coolant and oil in the oil pan and or dipstick
- Is the coolant excessively low and or engine overheating
- Unusual sounds such as knocking/ticking
- Are the cylinders compression within limits
- Added. Poll inquiry on blown head gaskets. Just a heads up.
http://www.sccoa.com/forums/showthread.php?97352-Blown-HG-s
- Bonus. Check fuel pressures
If you and or the mechanic are satisfied with the inspection and or tests, changing the timing chain cover gasket and or cover would be economical route. I would recommend the replacement of the following:
- Harmonic balancer, bolt and washer
- Replacement of the timing chain cover seal
- inspection of the engine and transmission mounts,
- Replace the water pump
- Replace defective coolant hoses
- Remove the radiator and have it checked out
- Replace thermostat
- Belts
- Change oil and filter
Or....
Replace the short block (@2K$) and consider the following costs:
- Cost of machine shop checking the heads and flywheel (5 speed)
- Head bolts or stud kit
- Harmonic Balancer
- Overhaul gasket kit
- Lifters (if necessary)
- Oil pump and filter
- Water pump
- Coolant system components: Radiator checked, hoses, thermostat, hoses
- Engine and transmission mounts
- Clutch components (5 speed)
- Torque converter and or flex plate (Automatic)
- Plugs and wires
- Fluids and sealants
- Belts
- Fuel system components (filter, fuel pump, injectors, injector manifold)
- Miscellaneous items (ground straps, battery cables, electrical harness and or connector repair, sensors, EGR tube, ect)
And probably a thousand other things many member of this forum have run into. The choice is yours.
Good Luck.