Ross Miller's "Speedwell Garage" video series has a lot to offer "newbies" Speedwell Garage on Youtube
I have a 1953 Cavalier and as Ross says, it's a pleasure to drive. The Ultramatic does not give you a great takeoff, and it's not really geared for going 80 mph on the Freeway, but both of those just encourage one to take it easy, which one should be doing anyhow. But I've driven it all over.
On this website in the "Directory" you will find a list of Packard vendors and service providers. Incredibly, all the engine parts for your casr are available new as well as many, many other parts. Some vendors you will want to get to know are Max Merrit and Kanter, as well as Tuscon Packard, Seatle Packard Company, Heinmuller Packard Parts, Packard Southwest, and Patrician Industries. Many of these vendors also advertise on Ebay.
Max, Kanter, and various others sell rebuild kits for your Power Brake unit (Easamatic or "Bendix Treadle-Vac") or you can get it rebuilt by Max, Kanter, or various others such as Tiger Treadlevac repair (see the Directory).
There is a lot of club support as well, and it's good to join the national Packard Club. National Packard Club
One thing that no one has mentioned, but it is possible to take the oil pan off with the engine in the car, though a bit tedious. Some folks recommend taking that off and cleaning/inspecting it and the bottom end prior to getting the engine running. Probably good to first see if the engine can be turned over first as Ross says.
There is a huge video series on basically the same engine that goes through a number of things, most importantly from this standpoint, shows how to take off the oil pan. This is for a 1947 Packard but the basics are the same: 1947 Packard video series
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