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Didn't mention but have you been driving it on a more or less regular basis or has it been sitting ? My '47 sat before I bought it and it was bit noisy, even thought I had a bad piston pin. I started with adding MMO and Seafoam to the gas, and still do, and driving the car relatively often. I also use 10w-30 oil, add a little zinc to the oil, and change the oil every 1000 miles. I find the engine likes long drives and getting heated up. It is now relatively quiet. These flatheads, without hydraulic lifts, overhead valves, fuel injection, etc are not like later engines. I've been spoiled by "modern" cars.