1952 Jeep M38

This is a 1952 M38 JEEP that I purchased in September 2022. I found it on Classic Autotrader. According to the seller it belonged to his grandfather who had purchased at an auction in the 80's. The JEEP was passed down to him in the 90's and has been stored since. The JEEP was totally intact and unmolested. In December 2021 after serving 38 years in the US Army I decided to finally retire. So, I bought a 30-acre chicken farm in Alabama to settle down on. I started looking for a project vehicle, specifically an older Jeep. I fell in love with the Military Jeeps in 1982 when I learned to drive a stick on one at my first duty station in Germany. My first new vehicle was a 1983 CJ8 Scrambler Laredo. What I really liked about the early Jeeps both civilian and military was their simplicity and durability. This is an important project to me. It lets me enjoy a piece of the military that I truly miss; it will also let me take part in car shows and give a chance to meet new people. Most importantly it's giving me something to relax and focus on. The plan is to keep it totally stock, a running survivor, and drive it to enjoy it on the farm. I do not want to restore it to be a show queen; the dents and dings will stay. Do the required maintenance as required and repairs as needed. Once I got the Jeep home, my plan was to get it running with minimal work. I started with the engine. I replaced the spark plugs and plug wires, rebuilt the distributor and oil pump, dropped the oil pan so I could check for obvious damage, and did the same with the head. Finding no obvious damage, I put it all back together with new gaskets and adjusted the valves. I then focused on the fuel system. I rebuilt the fuel pump and carburetor and patched up the gas tank. The radiator was in exceptional condition. I rebuilt the water pump and replaced the thermostat. All the rubber hoses were dry rotted, so every hose (water, fuel, brakes, air intake) were replaced with new. I rebuilt the entire brake system (master cylinder, wheel cylinders, relined the brake shoes). I made it a point, that if a component could be rebuilt, it would, versus replacing it with new. I changed all the fluids and replaced the axle seals. The seller had new tires put on before he put it up for sale - big plus. I got it running, put back together, and ready for its first time on the road in over 30 years. It drove really well, transmission shifted really good, transfer case worked, axles were good, no noises. Unfortunately, all is not good, the engine does smoke, the compression is fair, the valves guides are worn out, and the oil pressure never went over 20 psi, so the engine will need a full rebuild sooner than later.