Familyso's beater truck issues...
So my father in law has a 95 F150 beater truck with a 302 in it. It's a standard cab long bed, 4 wheel drive automatic. 272K on the clock. Purchased off eBay some 5 years ago, it's run fine ever since. So, 2 years ago, it blew a trans line and leaked all the fluid out. Got it towed home, figured, with that many miles we'd rebuild it. So we pulled the trans. E4OD I believe it is. We rebuilt it over last fall, then we figured we'd pull the engine and freshen it up too. So we did over last winter. Just honed cylinders, gave it new rings and bearings, and valve springs and timing chain. Threw it back together, then rebuilt the rear end with new bearings, and seals. Got everything hooked back up and fired it up. Set timing and took on a test drive. No power at all. Checked many different things. Fuel pressure, good. 38-40 lbs at idle. Fuel filter, changed. Spark plugs, all new, no misfiring. Compression test, 120 lbs in all 8 cylinders. Thought it was a little low, but it is the same through all 8. Then we checked vacuum....5-8 inches at idle. Booo. Horrible right? I'm thinking between 17-21 inches? So we've been searching for leaks. Can't seem to find any leaks. Even pulled the heads off, and intake, checked all gaskets, through new ones on after making sure timing chain is aligned. Threw it all back together and it didn't change a think. Well, it did, now idle vacuum is at 8-9 inches. Sooo I'm lost. Super frustrated. Can't figure this out. Just absolutely no power at all. Has trouble taking minor hills on the road. Won't even spin tires in the wet grass! Why has it got no power or vacuum? Am I forgetting something major? Need help or suggestions or advice from anyone please. Positive or negative at this point. Just very frustrated. Thanks in advance.