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I can't tell you what it's worth, but your buddy should plan on spending close to a $1000 getting the fuel distributor serviced. It and all the hard lines are going to be a mess and will be an expense above and beyond the gas tank. A few years back we got a similar car running for a customer and it was $2500 parts and labor just on the fuel system. He should expect at least that much in addition to anything else the engine might need if it's got pulled studs or leaking valve guides or any of the other 2.7l wooleybuggers...
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1974 914 Bumble Bee
2009 Outback XT
2008 Cayman S shop test Mule
1996 WRX V-limited 450/1000
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