The $150 quote is ridiculous, if it was real and they were going to do what you said, you should have jumped on it immediately. Maybe the $150 was parts only? The $350 might still be low, considering parts, labor, tax, coolant, hose clamps, shop supplies etc...
Parts haven't gone up that much, but an older estimate might have included a cheap rebuilt pump, and they've been burned on those, and might be using OEM or at least a different reputable part? There might be more wrong with it now too, maybe they added a belt, or hoses, or fan clutch etc.
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Today's Featured Article - Restoration Story: 1964 JD 2010 Dsl - Part 2 - by Jim Nielsen. Despite having to disassemble the majority of my John Deere 2010's diesel engine, I was still hopeful I could leave the engine-complete with crankshaft and camshaft-in the tractor. This would make the whole engine rebuild job much easier-and much less expensive! I soon found however, that the #4 conrod bearing had disintegrated, taking with it chunks of the crankshaft journal. As a resul
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