Need help... Olds 403

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Check that red wire for 12 volts with the key on only. Your distributor looks way off, not just the power wire. The vacuum advance should be on the other side for Olds. The power wire hook up should be on the drivers side. Remember the Olds distributor runs counter clock wise. Double check your firing order. The Quadrajet is a great carb. That is an 800 cfm model, if original.
 
Whoever had it must of routed the wires creatively to start and run. There should be a spot where they spliced in the harness, if not original. Make sure all the accessories are in line with the proper pulley. I threw many belts till I fixed the problem. The 403 is nice torquey motor. Make sure you have around 15-20 degrees at idle or it will run like sh*t and have no power.
 
When I started it up and ran it, the belt was smoking because the jaggass that owned the car before me thought it was a good idea to have like a 90/10 ratio of water to coolant...coolant being the lower ratio...haha f****in ha....wow
Now there is this like 1" hole shooting water underneath the rear of the drivers side head, like almost directly above the starter solenoid. it's like a hole with a recessed cap in it and there is a hole in that cap there...bout that size of a ballpoint pen head. it shoots the water and steam when the engine warms up...and I have this dumbass electric temperature guage in this car so it says HOT...COLD...that's it lol no in-betweens..
I'm thinking Ill be able to fab up a piece of metal to tap into the cap and either JB weld or High Temp silicon the edge to seal it up.... JUST ANOTHER PROJECT....
regardless, I'm glad the engine runs...it's doing the water shooting thing, but it IS running smoothly and quietly.
after fixing this, I'll be probably installing a new water pump in result of the new water findings...lord knows what it's done to the pulley for the pump, it's thawed, but who knows about corrosion from water.
 
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