I have a 1991 LWB that needs a new head gasket at the very least or a rebuild if I want to go that far. There are shops that will sell you a rebuilt engine for anywhere from $1200 on the low end to $2000. Or you can go to car-parts.com and look for a used engine to put in. For tips on doing anything to your Montero go to 4x4wire.com and look at Mitsubishi tech. There are lots of Montero Gen1 nuts out there too.
I spent the entire weekend getting the engine stripped down to where I can take it out. It's not hard, but is tedious. Getting a Chiltons will help tremendously.
As for my situation, I tried to go for a rebuilt long block (engine + heads) engine for a deal I couldn't pass up. $1150 after taxes and local shipping in California. It turns out that the valves they used were utter crap, as in pitted rusted dented broken crap. My 223k mile valves looked brand new in comparison. It's being sent back.
I love this truck. I've had it since 1996 with 68k miles and see no reason to get a new one. It's my boat tow vehicle.
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