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An overhead valve engine (OHV engine) is an engine in which the valves are placed over the cylinder head. This was an improvement over the older flathead engine, where the valves were placed in the block next to the piston.
The modular V-8 is a natural born hot rod right off the assembly line, and a powerful engine swap for your vintage Ford. What makes the 4.6L and 5.4L DOHC engines different than your 302 or 351W, aside from the obvious overhead cam design, is the bore and stroke.