I got my roller on an engine stand today. I took off the oil pan and found 1 broken off bolt. I found I had a stripped out oil pump bolt hole. (needs replacing I guess) I found this air chuck in a water passage. Looks like it's been there a while. I found the lilttle ring on the concrete under the motor. any idea what it MIGHT be?
Next time put your camera on "macro" it looks like this http://www.ephotozine.com/article/Using-your-digital-cameras-macro-mode-4848 and the ring might be the one that goes on the carburetors fuel bowl transfer tube. That's my guess...
Hard to tell with the pic quality but the blue circular thing looks like a seal from a re-builder that is usually on one of the freeze plugs. Check all the frost plugs for a clean spot that matches it. If the engine is overheated badly the seal will melt letting the builder know you cooked his engine. We've found all kinds of crazy things in engines over the years. Had a 3.5 liter blow up due to a Jolly Rancher candy wrapper in an oil passage. Figure it must have been in an oil filter that got installed.