schn0354
I am in the process of finishing a complete 7AFE rebuild in a 93 Corolla. I did more work than you; replaced pistons, rings, rods, valves, valve springs, valve guides, valve springs, thrust washers, rod bearings, main bearings, oil pump, all gaskets & seals, had the head worked and milled when they did the complete valve job (had 3 broken ones and 2 bents ones so I replaced them all).
I did the rebuild because at the end I was going through almost 5 quarts of oil a week (drive 650 miles a week for work) but was still getting over 30 MPG (cant explain that one). It started smoking only when it was first started (or after sitting for a long period of time), then proceeded to smoking profusely all the time so I knew it was time for some major work.
Granted, it would have cost less to just buy another car, but this is my wifes baby, she bought it brand new off the showroom floor and wasnt willing to part with it yet, has been the best car we ever bought. So for her I am now into this project a little over $1000 (including parts, supplies, tools and shop work). The hardest part about reassembling the engine was getting the cam timing right, what a pain! I was first informed that the 7AFE was an "interference engine" (meaning if cam timing isnt right you bend valves) but found out differently, but the cam timing was still a bitch.
I bought and used an inductive timing light simply because I didnt like the timing the way it was simply using the timing marks, runs much better now. Once I got it started I noticed oil leaking from where the head meets the block (at least everyone who has looked at it and myself say thats where its coming from) so Im awaiting a new set of head bolts (since this engine uses TTY bolts) so I can pull the head and see if something got between the head and the block (maybe under the head gasket) that is preventing a good seal. All head bolts were torqued to specs (22lb then 90 degrees then 90 degrees) so I know its not my torquing thats causing the leak.
All in all it sounds like you've done everything correctly. I wish I would have taken pics of the engine as I disassembled it to show, as it was in worse shape then ANY engine I have ever worked on (yet it was still running and getting 30MPG). Before reassembling I cleaned every part (by hand), painted the head, block, manifold, valve cover, manifold heat shield (used 1200 degree engine paint) so now its pretty as hell and cleaner than its ever beens ince it was new. Let me know how the reassembly goes.
