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Welcome to the BB Brett. The chassis problems are probably self-evident. However, there might be some problems hiding. Remove the seats and take up the carpet on the floor and see how much rust you have in there. If it's bad, you'll need to budget for replacement floor pans, about $200 each side plus welding. Note that I didn't say "see if there's any rust" but rather "see how much is there."
On the drivetrain, how is the sychros in the transmission? An exchange tranny is about $850. Popping out of reverse is pretty common on worn trannys, but I wouldn't pull it just for that. On the engine, before you condemn the rings, I would do a wet and dry compression test to see what you've got. If you're getting 140-160 psi and a good first couple pumps, and aren't showing oil burning, then money might be better spent fixing something that needs fixing. On the oil pressure, how does it start out, and what does it deteriorate to when the engine is hot (both at idle and say 2500 rpm)? If the front seal is the only problem with leaks, that can be replaced in-situ.
The backfiring is probably because the Fuel Cutoff Solenoid is not working either because of bad wiring or a bad microswitch on the injection pump. A new microswitch is about $60, but the pump has to come off the engine to replace it. Not too hard, but can be a PIA if some fasteners are corroded.
You should also check your injection pump for signs of fuel leaking into the oil sump. Check the thread in "Carbs and Fuel Injection" for the thread on "Pre-purchanse inspection of a SPICA injected Alfa." That will tell you how to do a quick check to see if the FI pump is severely worn.
As for the electrical issues, but best advice I can give you is to just go through the entire chassis wire bundle by wire bundle, connection by connection and CLEAN everything with electrical cleaner spray. Wire brush all connectors shiny and make sure the connectors grip tight. For the cockpit, the best thing to do is just pull the dash board. It's only held on by five fasteners and it will give you super-easy access to clean and tighten everything very quickly and easily. Pulling the dash will take about 30 minutes, but will save you hours of time and back pain trying to work underneath it. You can fix that Speedo at the same time. If you need pictures of how the dash comes off. We have a bunch in previous post, or many of us have them on our computers already. Being new to Alfas, don't try and reinvent the wheel . . . . read the shop manual, and if you have any questions or need clarification, don't hesitate to ask. Somebody here will have the answer and a great tip on how to do it the easiest/bestest way, and probably with pictures to boot.
Post us a picture of the ugly duckling, soon to be a swan.
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John Stewart
74 Spider
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