Good luck. Sounds like 2 honest people on this.
Well, let's wrap this post up on a very positive note. The 327 is running fantastic with 150 psi compression in all 8 cylinders. The #4 exhaust valve rocker arm "cup" (where the nut sits) broke in 3 pieces and the rocker arm was not sitting squarely above the valve spring. All broken pieces were recovered as I put the rocker arm back together like a jigsaw puzzle. I have since driven about 90 miles or so, after replacing the rocker arm and readjusting the valves, on I-40, I-25, and for about 3 hours today thru the streets of Albuquerque. This Bel Air ran smooth, although I do need to adjust the Carter carburetor for being at high-altitude.
Many thanks to @oldskydog , @pvs409 , and @409 Chevy Performance for their phone calls, texts, emails, and private messages with advice, guidance, and most of all patience. I actually owe everyone who commented on this thread many thanks as yoru thoughts contributed to the direction of the diagnosis.I only had 1 to maybe 1.5 days each week to diagnose this issue because the DIY shop I am using is closed on Sundays & Mondays, and although cleanup on the other days is not until 6:30 pm....I wish I could say I am not working my regular job up until that time, or past...but, I am.
And major, major props to @William Malik who I bought the car from. Bill & I are life-long friends at this point. He & I were so frustrated at the temporary outcome of things, but never with each other. As I re-learned to wrench on a car Bill was very patient with me, just like the others. I had my 19 year old daughter and my wife out helping me, which made my Dad jealous. He told them "you never help me on my cars when you are out visiting." lol And, having somebody re-learn to wrench with two very complete novices as assistants means the person providing the advice best have patience.
Again, issue is resolved and I am very happy with the outcome.
Andrew
PS.......for other positive and breaking news, see my other post from today, titled "62 Bel Air - Into the Deep End We Go" in "Builds and Projects"