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I will check Ford shop manual, but I would agree that 120 and variation you are seeing is not bad. When I rebuilt my engine, the high boost (14lbs on non L block) waisted the rings and the exhaust valve guides. Valves and cyclinder walls were fine.
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2003 F150 ExtCab/Step Side
Blown & Smiling Est 400rwhp/500rwftlbs
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