Engine Detailing and Restoration

Engine Restoration
Define the scope of the project
Step 1 in your drivetrain restoration effort is to make sure everything is functional, structurally sound and in good condition. If your engine smokes, has a bazillion miles on it, is disassembled or otherwise doesn't work, you'll need to rebuild it.

If the transmission isn't shifting correctly or hasn't made a car go down the road in a couple years, you might need to rebuild it as well. In fact, if you start pulling major components (engine) out of the car you might want to have the transmission rebuilt at this time just so it's nice and fresh. It's a major PITA to have a nice car and have an old finicky item constantly prevent you from having fun with it. This is called being penny-wise but pound foolish. Also, it'll help you avoid the "You can pay me now - or pay me later" syndrome. However, you need to be very careful of the "slipery slope" - which is to unnecessarily expand the scope of your project by tearing everything apart and rebuilding it when all you really wanted to do was clean something up. You can also fall into the trap of replacing everything (alternator, starter, waterpump, coil, radiator....) so it's new, rather than simply cleaning it up and reusing it.

Cleaning everything up
Step 2 - Assuming these items are structurally sound, you can simply clean them up. Here's where the amount of effort expended and attention to detail pays off. If you do a Quick cleaning job - Sometimes called a spray-can restoration - it'll look like it. While it's not necessary to remove the engine & trans, it'll give you the best results.

Pulling engine: You can pull the engine & trans together, or disconnect the transmission from the engine and pull the engine by itself, then remove the transmission from under the car. Both methods have pros/cons.

Generally when components are rebuilt they come back nice & clean. Paint them. If you're not going to rebuild the engine or trans, degrease them and paint them. This work is called "detailing". Some folks go to great lengths to detail their cars and make them spotless. That's not really necessary unless you're really interested in that level of detail or if you will show your car. The majority of owners won't have a heart-attack if they drive through a puddle. It's easy to clean the engine bay when everything is removed. You can also inspect and replace the motor mounts if necessary. The best thing you can do is make & keep everything nice, clean & detailed. The level of detail depends on how you intend on using the car. Some folks wipe dust off immediately and are afraid to char the paint on thier exhaust manifolds. Some folks can live with degreasing their engine every once in a while.