Ah the memories, my first new car...
1974 Vega GT. 2.3 liter w/2 barrel Holley/Weber carb. 4 speed stick.
Car and Driver rated it as the best handling "Super Coupe" of the period which included the Opel Manta, Mazda RX3, Mustang II.
The Vega might have had a junk engine but it was an excellent handling vehicle and would put some of today's vehicles to shame.
Yes, at 50K miles the engine was worn out. Blowing blue smoke. My Father and I spend a summer rebuilding it. We purchased the sleeve kit and had a speed shop bore out the block and press in the sleeves. That solved the oil consumption issues.
Some other quirks that I recall: The water pump mounting holes were slotted and functioned as the tensioner for the timing belt. Install the belt and then pry bar the water pump to the correct tension and tighten the nuts. The rear main engine seal was a weird silicone seal design that was very critical to install or else it would leak badly. The carb had plastic fuel floats which had a nasty habit of leaking and sinking. Yes, the air filter was a one piece paper filter in metal assembly which was replaced as a unit.
The block was aluminum. The head was cast iron. With both stripped down the head weighed more than the block.
1974 and newer had fender liners. Rust was no worse than typical 1970's vehicles.
The engine still had a point ignition system. HEI came later. I installed a CD ignition system.
The rear axle ratio was 2.92:1 which made it feel like you were always starting out in 2nd gear. It begged for a 5 speed which later years offered. Gas mileage cruising at 70 MPH was 32 MPG.
Had it until 1983 and sold it. A little over 100K miles.