I just picked up my Gen VI 502 last weekend. I paid $3000 for it. The p.o. bought it from someone else, then he tore it down to inspect the condition of the engine. Supposedly it has around 8000 miles on it, and he wanted to verify it was true. He decided he didnt want to mess with it because his Ford Lightning was becoming more fun with less work, so he sold it to me as is. It is in excellent shape. No wear in cylinders ( sticll has cross hatch marks), roller cam, 4 bolt main, Merlin Rectangle port heads, Edelbrock air gap intake (new), Milodon oil pan, Super Comp Headers, Edlebrock valve covers (new), Bowtie roller rockers, full accessory drive kit for serpentine belt, new distributor.... much more. Well worth the money. All I have to do is re- assemble it. I roughly put it together so I could seal it off and keep everything together until I can do the finally cleaning and re-assembly. This thing is huge. I havent set my 427 next to it yet, but am going to in order to compare the differences between them. I know the pans are different, and the 502 doesnt have any provisions for a mechanical fuel pump.
I am very excited to get it going. It supposedly was dynoed at 650 hp with a Holley Dominator. The intake I have is not the one it was dynoed with, so Im not sure how much that will change. I also need a carb for it.....wow, thatll be another $800+ I wasnt expecting.. Oh well, Im ahead so far.