Thanks to all for the advice on my 47 M. I've totally changed my mind on what I'm going to have done with the aid of your insight.I was planning on having the local IH dealer do an inframe overhaul, clutch, radiator, steering geer, and rear axle seals to the tune of a ball park $3000+ cost (I won't know the exact bid until later this week or early next). I have no vacation time, no place to work on the M where it can sit torn down, but have saved my pennies knowing this work would have to be done. Heck, being a first time dad 4 weeks into having a daughter I don't have time to sleep much less split a tractor right now... So after reading all of your advice I've decided to only have the work done that I need done now to keep her brushhogging/blading snow. So I'm going to have the IH dealer do the clutch, rear axle seals, radiator, and steering gear/bushing. That'll get the M fixed up and running 100%, with just a little smoke which annoys me more than anything I guess. Like many of you have said, she still has alot of hours still in her motor. She's only smoking alot out the stack under extreme load (govenor wide open) and just a little smoke under light load noticible out the breather, nothing really out the stack. There's no plug fouling or loss of power and she doesn't burn alot of oil yet so it's not really "broke". And like the old saying, if it's not broke, don't fix it. I'll use the money that was going towards the engine overhaul towards a new pole building. And when she starts smoking more, drops power, fouls plugs, or I just have the time I'll pull the head and oil pan and remove the pistons/rods, hone the sleeves, and put new rings in her. Her oil pressure is really high so her bottom end is probably fine at this time. Honestly I'm not sure what's inside that M's block. She pulls nearly as hard as my bored out JD70 and twists her PTO harder than any M I've ever seen. She twists a 6 foot brush hog though grass and weeds as tall as the muffler without complaint and has actually destroyed a couple 50hp rated "overrun" pto clutches by overpowering them and splitting their cases open (also twisted the splines on one overrun clutch). So I'd hate to have her torn down and not have the same parts put back in (ie not put high compression pistons back in) and loose power. When I do it myself I can make sure I end up with what I started with. She's done good for me the 10 years I've had her and I'm sure she's give me many more years so I'll stick with her. Thanks again for all of your help!!!! thanks, Mark
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