I hate to point this out, being an old woman and all, but this story has a major flaw. At the first it says he disassembled the entire engine and had all the parts lying out in order, labeled, and cataloged. I have never heard of anyone tearing apart an engine and labeling the parts.
Later they say he never took off the oil pan, because it was sealed.

Can some of you more mechanical than me, explain how he got the rods, pistons, cam, valves, and crank shaft off with the oil pan attached? How did he bore the cylinders with the oil pan still attached?
It was on a routine maintenance, years after getting it running, that he decided to disassemble the engine, down to the BARE block, not just a rebuild like he had done before.


How did mice build a nest in a sealed transmission?
The only reason the head would be cracked, is many old farmers just added water all spring, summer, and fall, diluting the anti freeze too much, so when winter came, if it wasn't drained, or anti freeze added, heads would crack. If it wasn't used in the winter, then draining was done. Since my 8N was used for snow removal, I had antifreeze in it year around.
Nice feel good story, but I am calling it pure bull pucky.

Another thing is, I have never heard of a tractor being in that bad of condition or taking that long to restore. In 1970, my father in law bought a 1939 model B, Allis Chalmers that had a seized engine and he had it running in less than a week of spare time.
Not his, but identical. It is so ugly, it is cute!
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Many old tractor restorations are mostly cleaning up and painting. With a seized engine, drop the oil pan, clean the engine bottom and the pan with kerosene, fill the spark plug holes with penetrating oil and let set for a week. The old tractors with hand cranks were great because that crank could be used to unseize the engine and work it until it was clean. Once free and clean, then use 10 weight oil for an hour, change the oil, and then put in 30 weight.
Cleaning the fuel tank, lines, and rebuilding the carb, usually took longer than getting the engine unseized. New plugs, wires, rotor cap, points, condenser, and strobe timing didn't take that long even stopping for coffee and chocolate donuts. Usually, just a radiator flush and sealing any leaks, a lub change for the rear end and transmission, and wa la, those old tractors would run like a champ for years.
Forget the paint, as my dad would say, that was prostituting a great old lady. Clean it up and maybe use a protective paint restoration wax, but to repaint it was a sin for many old time tractors buffs.