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A running engine can still be quite worn out. So to me running is a vague term. The engine that was with the chassis for my delivery ran fine. It had a very slight rod knock. When I pulled the pan to inspect I found no shims left anywhere in the engine. Further inspection upon dissassembly I found the cyls were worn and .009 taper. It needs a complete rebuild. I only paid $500 for the chassis so it was a good buy even though everything needs rebuild. I would value what you discribe around $3500-$5000. Rod