Hi Capt Roy,
I agree with Don that the engine will be fine on most engine stands, but wanted to note you might find some common types of stands won't have enough adjustment to match up with the TR's bellhousing holes. If that's the case with the stand you get, you might need to make some heavy steel adapters.
Regarding lifting the engine, Don's methods will work, or if the head is removed the head studs can be used, even the previous owner's method isn't all that bad. However at the front/left I've generally used the lifting eye that's part of the front engine plate. At the right/rear on TR4 and later (at least, I dunno if the same was used on TR3 and earlier) there is a bracket that attaches under the head nut and exhaust flange nut. See item #63 at
https://www.mossmotors.com/Shop/ViewProducts.aspx?PlateIndexID=29116
Now, I'm sure this would work, so long as the right rear head stud and most rearward exhaust manifold stud are both long enough to accomodate it. If you find those two studs are longer than the others on your engine, that's to accomodate this bracket. Frankly, although I use it, I'm not totally happy with this original-style lifting bracket. It's in the way to remove or install the exhaust manifold/header (thus is often removed and lost). Plus, it means removing one of the torqued head bolts to remove/install the bracket. And, I dislike loosening a head on one corner like that. I've toyed with a design for a longer lifting bracket out of materials similar to the front engine plate, that instead mounts down by the starter. But haven't been able to satisfactorily work out clearances around throttle linkage, heater pipes/controls and intake/exhaust manifolds.
Don mentions and describes an engine leveller, which is very helpful too. Another is the Oberg Tilt Lift. This performs the same function with cables, I just like it because it folds up small enough to fit into a toolbox drawer. Either type is a big help getting the engine/gearbox in and out of the car.
Instead of the traditional engine hoist, which are a bit of a pain to store and move around, I use a half ton chain hoist attached to the garage ceiling. With that I lift the engine/gearbox and gradually roll the car out from under it, which may or may not be convenient for you. A chain hoist also folds up small enough to fit in my toolbox, plus sells for under $50 at Northern Tools or Harbor Freight.
I mentioned pulling the gearbox along with the engine and I think most would agree that's a good idea with TRs. It's alot easier to remove, realign and reattach the gearbox outside of the car, although it certainly possible to marry the gearbox to the engine from inside the cockpit, if you must.
The combination of engine and gearbox weighs in around 500 lbs. The nearly fully dressed engine itself is a little over 400 lbs (without intake/exhaust manifolds, carbs and alternator/generator), while the 4 speed gearbox weighs about 80-90 lbs. An overdrive adds 30-40 lbs. So, whatever lifting equipment you use needs to be able to handle that. Most V8/transmission combos are a lot heavier, so most engine hoists/stands are more than adequate to handle the TR parts.
The engine side of the bellhousing flange is pretty sturdy. I've never seen one broken.
However, the earlier gearboxes (up through TR4A, I think) have a thin flange that's another matter entirely and is prone to breaking both while in and out of the car. The gearbox body and bellhousing are cast aluminum, I believe. I happen to have a later TR6/2000/2500 gearbox in my TR4 now, which has a heavier flange and solves this possible problem. But, if I were using the earlier "thin flange" gearbox, I'd be tempted to make up some backup plates out of heavy steel - say 3/16" - to fit under the nuts and bolts and spread the stresses around on the gearbox flange. At the very least, I'd use sizeable washers under each mounting point to distribute stress as much best possible.
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