I called an engine guy out in New Germany, last night.
He gave me a firm quote for resolution of my oil usage problems.
Options:
1. Remove, redo and reinstall my current 120 engine: $3975, for his labor and parts.
2. Install one of the new $2300 Michigan Motorz "basic block" 140 engines: $2500, for his labor and parts not included (starter, alternator, carburetor, exhaust manifold, exhaust elbow, fuel pump, belts, hoses, thermostat housing, thermostat) with $2300 "basic block" (total $4800)
3. Install a used, working 140 engine he has on hand (starter replaced, carb rebuilt): $1500, parts and labor
This is frustrating. I know there is a problem, but don't know exactly what it is. From what I gather, the engine must be taken apart to find out what is wrong, and fix it. Labor costs money, so it would cost a fair amount just to explore the engine, learn exactly what is wrong and THEN more money to fix it.
I need a solution that will stop the oil usage, give me 10+ years of trouble-free operation, without spending $4000 or more.