"Where did the chunk go?" Yeah, we wondered that as well. We did find tiny pieces in other cylinders, but not enough to make up all of the missing material from the crown of the # 5 piston. Evidently it is common for pieces to travel through the intake into other cylinders, but it is very *uncommon* for those pieces to get into the lower half of the engine. I guess we will see soon enough though, because on Thursday we plan to pull the engine and have a look for ourselves.
First order of business will be to drop the oil pan and see what's in there. Will probably pull a sample to send out for analysis too. Then we'll flip it over and start looking for other problems.
Interesting concept about the piston breaking from a lack of lube following a long period of non-use. If that is what happened here, then the piston likely failed quite a while ago - possibly a few years. (The guy my son bought the boat from actually used it rather often, while the original owner basically just left it sitting at the dock all the time.)
We did hose it down with seafoam and shot oil into the cylinders before we called it a day when we pulled the heads, and we will keep it lubed throughout the rebuild process to prevent any rusting.
Regarding damage to the valves on that cylinder - here is a picture of the head on the port side:
http://i.imgur.com/vkXVZBt.jpg?1 (Click the image to zoom in)
You can clearly see where the head gasket blew between cylinders 3 and 5. And yeah, the valves on # 5 do show very slight scratches on the bottom of the tulip, but nothing really severe. They are blasted clean, however, which none of the other valves are. So, like so many others here, we are strongly concerned about water ingestion being an issue.
Here's the puzzler though: The gasket on the port head appears to be completely intact between the water passages. So if water got in, it just about had to come from the exhaust system, and if that were the case it should have affected more than one cylinder, right? So how come only cylinder # 5 is completely carbon-free?
Here is the album of all the pictures of the engine for comparison:
http://imgur.com/a/4dZQP
We did notice that the port side head gasket was "shifted" aft, and we don't really have a good explanation for that. It could have happened when the gasket failed, or it could have been a lousy installation job a long time ago. No idea if it's related to the failure or not.
Valve timing appears to be correct, even after everything that happened to the engine, but I guess to be thorough we really should pull the timing cover and check the timing set. (That's the part I'm afraid of... No good marks on the engine now, at least not that I can see, and thus re-setting the valve timing might be tricky if we start replacing things in there.)
I should know more by the end of the day on Thursday, and I'll update things here once we're done for the day. Thanks again for everyone's input!
Adam