I ended up having a little time when I got home yesterday to work on the engine. I took the torch to the head where the bolt was stripped and after a minute of intense heat, she came right out! That was my 1st time using a torch on a stripped bolt.
As I thought, the exhaust valve was stuck open. Years of it sitting, things got up into the engine and died. The cylinder wall looks good, but the head may need an insert for the spark plug as it looks original and I'm afraid it's going to strip right out once I get it out.
The engine now turns over fully.
A step in the right direction with little time to spare since fall is quickly approaching.
Edited by Titus, September 02, 2014 - 09:32 AM.