Yesterday, my brother Randy came over and we yanked the engine and transmission out.  It went relatively well, and we had them out of the car in less than 2 hours.  The coolant was very rusty, and the oil was thick and smelly.  In the process we found that I will need a new flywheel, or at least the ring gear, since it was pretty well chewed up.  I'll also need a new heat shield between the manifolds and the carbs.  Both this one and the one on the other B are cracked.

Once we had the transmission disconnected from the motor and the motor installed on Randy's engine stand, we fired up the pressure washer and gave both units a good cleaning.  They cleaned up fairly well, but will need more.

Then tonight I started disassembling the engine.  I removed the distributor, the side covers, the water pump, the cylinder head, the oil pan, and the oil lines to the oil cooler.  I was amazed (although I guess I shouldn't have been) at the sludge that oozed out when I removed the water pump.  The same sort of sludge was in the 3rd cylinder, which I was aware of when I bought the car (well, I was aware there was coolant in that cylinder).  Right now I'm not sure what caused the problem in the 3rd cylinder, but I'm guessing that the cylinder head is cracked.  I didn't find an obvious flaw in the head gasket, but I'll have Randy look at it and see what he thinks.

The next step will be to get the head to Randy so he can clean it up and see what he thinks of it.  I'll buy a socket for the pulley on the front of the engine and see if I can get the crank to turn.  If so, then I'll remove the remaining pieces:  pulley, timing gear, oil pump, rod bearings, crankshaft, and pistons.  Then I'll clean up the block and see if Randy thinks it rebuildable.