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Might be time to take a step back and think about pulling the engine for a full refresh. That rust in your cooling system used to be the water pump impeller.
I think all the engine oil seals/gaskets, coolant hoses, vacuum lines will start leaking badly if you get it running as is.
I was going to refresh all the lines for exactly the reasons you point out, was hoping not to have to tear into the engine. Goodness only knows what would happen then with Greg Brown a stones throw away.
Actually, I can tell you what would happen. My kids wouldn't go to college. Hmm...
Mainly I mean the front and rear crank seals, oil pan gasket, oil filler gasket, cam tower seals, distributor O'ring. None of these are too invasive, it is just all the 'while you are in there' stuff that will sidetrack you. Replacing engine mounts is a no brainer while replacing the oil pan gasket, then you should replace the power steering hoses and will probably find your steering pump and rack leaking. The list will grow and grow, you will see
Going as far as the head gaskets. Well that is a tough call. 17 years with acidic coolant has likely eaten away at the cylinder heads. The head gaskets may hold up just fine or could blow out two miles out of your driveway, who knows? If you have the time, money, and comfort level to take it on, it would be inline with your goals of a trouble-free car.
You did say you like working on cars right!? I'm just telling you how much fun you will have!
I have done a LOT of work to my '83 since I bought it in April last year and I still have to rebuild the transaxle and torque tube and my right cam tower is weeping oil at the main gasket between it and the cylinder head, not the easy to do gasket at the rear. So that means pull the engine out again and replace the head gaskets while I am at it. It is a minor leak though so no rush.
The good thing is all the information available and help, consider becoming a member and you will probably get more advice from some of the experts.
The reward will be awesome when you get it back on the road after such a long 'coma'.
Alex makes some good points here. Its actually easier in so many ways to pull and work on it on the stand. Either way, good luck and am enjoying following your progress!
Make sure you replace that almost-invisible sealing ring that is still stuck in there. Your new one should come with a new sealing ring too. You'll notice that the new one is covered in a rubber or plastic material, which has all but disintegrated from the old one.
You can use a pick or small screw driver to pry the old one out...just bend it inwards...but make sure you stuff a rag into that passage leading to the water pump! Otherwise, you are guaranteed that it will jump down there and you will have to fish it out, which is a pain. Ask me how I know this...
Make sure you replace that almost-invisible sealing ring that is still stuck in there. Your new one should come with a new sealing ring too. You'll notice that the new one is covered in a rubber or plastic material, which has all but disintegrated from the old one.
You can use a pick or small screw driver to pry the old one out...just bend it inwards...but make sure you stuff a rag into that passage leading to the water pump! Otherwise, you are guaranteed that it will jump down there and you will have to fish it out, which is a pain. Ask me how I know this...
Good morning - I don't see the other ring, is it pressed into the housing?
Interestingly there is anti freeze in here whereas only water drained from the radiator.