Hi Pat, welcome to the forum. Looks like a good project. Any rust issues? The trunk lids are often badly rusted where the frame meets the sheet metal as the factory used a caulking that trapped moisture. Usable replacements are hard to find and thus expensive (between $500 and $1000). I like the white top with this paint colour. Are you keeping it?
Besides the timing chain there are a few other sore spots you really should know about. the '64 & '65 ammeter gauge, and lower shift tube bushing. I'll summarize their potential for damage by the following: burn and crash.
The '64 and the '65 Continental are known for jumping out of P into R just as you've exited the car to open the gate or garage door. Now watch you car drive off on its own into a neighbour's car, house or tree. At fault is a worn out lower shift tube bushing (at the bottom of the steering column). Symptoms are having to wiggle to shifting lever to start the car & non working reverse lights. I always put the parking brake on when I exit the car with the motor running. I also removed the vacuum release line form the parking break.
The '64 and the '65 Continental in-dash ammeters are notorious for corroded gauge terminals which cause weird electrical problems. This little gizmo has also proven to be a fire hazard : many '64 and '65 Continentals have burned to the ground because of an electrical fire started by the ammeter as it shorted to ground (the chromed dash panel). To add insult to injury: this is a non-fused circuit ...
Heading home from a car show last summer, I saw smoke coming from the dash, I saw the ammeter needle was all the way to the right. I pulled over immediately and turned the car off. The chrome dash bezel was very, very hot. The the top right corner of the ammeter had melted and the whole thing was discoloured. I decided to remove the ammeter from the wiring loom (but to keep it installed in the dash of course). I cut both ammeter wires at the back of the gauge and connected them together. I installed a 70 amp fuse between the battery (+) and the starter motor relay (+). Better be safe than sorry (about your burned-to-the-ground slabside). I installed a volt meter in the glove box compartment. For fire safety reasons alone I can suggest this to all '64 and '65 owners. It'll take you an hour to an hour and a half. Just remove the metal dash bezel and you can get the ammeter out from the dash. In year or so I'm restoring the dash so I'll replace the gauges - but the ammeter will not be reconnected. If you want to keep the ammeter in the wiring loom; add a fuse, clean the terminals and check for damage to the ammeter and/or the wiring. Most importantly; update the ammeter as explained in this service bulletin:
Cheers,
Reijer
