"Blown" Ford 351

William,
Congratulations. You are making some progress. Hopefully the leak is simple and you'll have that engine running soon.

Thats's a great shot of the cover. Looks exactly like the spot the water is coming from, How do you post the pictures? I looked at Amazon for a gasket set and saw Windsor V8 and Cleveland but no Commander? The engine sounded AMAZING for the 10 seconds it ran. I also see many different brands for timing chains. Recommendations? And thank you all! PS. The starter was not assembled incorrectly as well as totally dirty inside. The PO or whoever had the spring that returns the bendix on the axle the bendix slides on.

It's a 351 Windsor

Pleasurecraft (PCM) or Commander are 2 of the companies that marinized the 351W.

There are others also.

Regular automotive chain and gears. They get replaced as a set.

Plenty of brands from your local parts places or thru the internet.

Either silent or double roller chain are reasonably priced.

I think in the Common Qestions section somebody explains how to post pictures or you can do a search here on CCF and find some good explanations.

That is broken and looks like it has leaked for a while.
Cloyes is a well known Timing Set manufacturer.   
Fel-Pro is the most trusted name for the Gaskets.

There is a company called Lock n Stitch that has been fixing blocks and heads for years with a proven process.   If you have access and can drill holes into the cracked area Lock n Stitch products will pull the broken parts back together and permanently seal it.
They were headquartered in Turlock CA.
If you don't have access to drill and install the lock n stitch the engine will need to come out.   At that point it might be cheaper to find a donor block replacement.

I'm having a hard time figuring out the picture too

Looks to me as though the pic is upside down and behind the alternator

Hmmm   Doesnt help me much.

Pete will soon chime in and advise you to JB-weld that crack and see if there is an internal crack or not.

But, I wouldn't be concerned about an external crack there. However, it might be a clue that there is an internal crack that would have caused your milky oil.

     Here's a wider angle. Don't know how the image got flipped. Anyway, I'll need that balancer off to see the extent of the damage. Is JB welding it and rechecking a bad idea? I've seen the LockNStitch stuff on Jay Leno's classic car site and I like it. I'm off to the city to work for a few days then back at it on Sunday. And again, really appreciate the interest and help.

It's my "guess" that there are other issues also. Crack like that don't just happen. There is a reason. Possibly more problems that have not come to light yet. You may be block shopping.    JMO

Out of curiosity where was the freeze plug that was popped in relation to the crack you have?

I'd still get it running on the hose for a while like 10 minutes or so and let that crack in the block leak and see how the water in the oil situation is.

But in the last picture, it looks like you already have the circulating pump off of the timing cover so maybe you'll want to continue with getting the timing cover off

Not looking to promising at all right now though, I figure there's at the least a new block in your future

Also the casting plug the blew was the center one on the same side as the hole. Does that say something?

The smart thing would be to get another block or engine.

If you want to keep the engine as a reverse rotation engine you'll need a 351W block with a 2 piece rear main seal so you can use the reverse rotation crank.you have now.

Lots of things to think about, lots of different routes you could go but every one of those probably should include a new block and no repair jobs on the one you have

You may have other internal cracks or big holes you can't see.

By the way that's a nice picture of the nylon coated cam gear that was original back then.

It looks to have all of it's teeth and in good shape too.

Probably means the engine doesn't have too many hours on it.

You'll probably get lots of suggestions on what to do, so take your time, decide what you're comfortable spending and what engine work you're comfortable doing and remember again, you're working with a reverse rotation engine.

I'm going to repair this block with my skills and Belzona 1111.

Besides the block, it's a nice looking Martinique.