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Balancing makes it run smoother. I hear a balanced engine lasts longer. I would think that this would apply even to a stock rebuild. If you can afford it and its not a total low budget rebuild, then I would do it.

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100%! Besides the smoothness and extended engine life, you might pick up an extra few hundred rpm's to boot. Less stress on the lower end (mains and rod bearings) and the oiling system, if kept clean, will be flawlessly efficient. BTW, nothing low rpm about the 383, they want to rev (read: peppy street performance).