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Larry: If I were you, I'd check around for a 300 or 350 engine. Your 504 gas was a non sleeved engine. The 300 and 350 engines had sleeves. You would need to increase rpm by couple hundred to get standard pto speed. These old sleeved gas engines were far more durable. In the early 1970s, I had a Farmall 300 my dad bought new. Probably had about 15,000 hours on it at the time. Was on its third set of pistons and sleeves. I bought a neighboring farm with and with it a Farmall 504 gas. 504 had less than 1,600 hours on it and at time of purchase was away having engine rebuilt. When it came back vendor wanted to operate it a few days, just to be satisfied tractor was good. He knew either 300 or 504 were going to be traded off for a much larger tractor. After 3 day on a 9' NH haybine, he advised me not to keep 504 too long. I had a 3x16 IH trailer plow and had some plowing to do. I knew the plowing was going to be hard as it was quite dry. I tried both 300 and 504 on that plowing. If you look at hp 504 should have been all over 300, but that was not to be. While it was plenty load for either tractor, the 300 proved to be the better tractor, that day. The 504 got traded off and 300 stayed with me the rest of my farming days. Don't get me wrong the 504 is a nice tractor. The 188 cu inch diesel was exceptional. The rest of the tractor is great, wide front a bit light. That gas engine just did not have it. It marked the very first time IH ever put a non sleeved engine in any tractor over 20 hp. Another suggestion would be 188 diesel if you can find one or the 239 cu inch diesel used in 544.
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