Is this engine worth saving?

Looking for diagnostic help with my 1954 M37. 10K miles original Flathead 6 engine (sorry no pics). Had been using my truck about once a month for short trips over the last 12 years. Last month it would not start but then kicked in with rough idle and lots of blue smoke. Smoothed out and smoke got a bit better, but now I have bad knock on acceleration and oil is dripping from under the fan. I am thinking bad lower end that has dislodged the front main seal???. Oil pressure is low at 12-20. Truck is not where I am working now but I wanted to see if anyone has information on bearings/front seal replacement. Hoping it might be done without pulling the engine? Probably need both rod and main bearing sets.
My next step will b to drop the pan and take a look-but is this even possible with the engine in?
Any ideas or info appreciated.

Every bottom end knocking engine I have ever pulled apart has needed the crank turned.

You can drop the pan and take a look but I dont remember how difficult this is since its been while since I owned an M37. By the sound of it most certainly have something going on inside the engine that need to be figured out. I would before anything go to the TMs on this site and look over the procedure for dropping the pan I doubt its to difficult and that will give you at least a start. The engine is certainly worth saving and if for no other reason you know exactly what you have, I am not saying that you cant just go out and buy another engine but as in all cases that could easily be a crap shoot. Good luck they are good engines and pretty darn easy to work on!

Engine is worth saving, and you will save time and effort if you pull it to work on it.

Thanks for the encouragement. It has been awhile since I did engine work and never pulled an M37 motor. I have a torque wrench and plastiguage so I plan to tackle it. Working on this outside so I will be using a log tripod,
Two questions;
1.) How crazy a job is getting the motor out? Obviously the front has to come apart.
2.) Best source for a bearing set (Rod and Main)? any cross references for common parts?

Yes, the pan is removable in situ. You may have to jack the chassis up a bit to have room,

A bottle jack under the front crossmember is the easiest way.

Sometimes the pan gasket adhesive is a real bitch to get loose.

The best way to remove the engine is to pull the entire power plant: radiator, engine, transmission all at once.

The G741 TMs available in the forum details this tactic.

G744

Roberts Motor Parts in Hemmings mag have everything needed for an overhaul.

Chances are Memphis EQ does also.