The 2.7 is long since gone - the 2.0 in the car (the engine pictured in my first post) is "supposedly good" but no one who knows anything about this engine is still around. For example, you can see in the picture that it has an S shroud and zenith carbs!
Since it hasn't run in a minimum of 10 years, I asked two Porsche mechanics that I respect and got two different answers. One said basically "start it up and see what happens" and the other said that after such a long time it should be torn down (which is why I posted in this forum) and cleaned - especially since it has no history. I decided to get additional informed opinions here before planning what to do next.
The car is a European '68 (short wheelbase) 911T coupe. No crash damage, but rusty floors and rockers. Solid front and rear clips.
I have made a web site about the project:
http://ladwigindustries.com/mike/68-911/porsche.html
Thanks!