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I can almost guarantee that the case will have to be machined. An by "machined", I mean "resized". The last time I had this done was probably 8-10 years ago and in was around $1000.
"But, but, but the bearings look fine!" Here's the thing: when you unbolt the case halves of a 2.7, they go "boing" and twist. (They don't actually make a sound.) To see for yourself, put the crank back in and try to turn it...
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'80 911 Nogaro blue Phoenix!
'07 BMW 328i 245K miles!
http://members.rennlist.org/messinwith911s/
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