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Got my junkyard 6.0 buttoned up and used my buddy's balancer install tool last night. It went in fine, not sure what happened, but it would not come out. Using a breaker bar by hand started to bend the threaded rod. Finally got it out with the 3/4 impact and the pictures tell the rest. Looks like a thread on the tool broke loose or something. Anyway, I threaded the old bolt in all the way to see how much thread was left - the pictures show this also.
I'm not sure how much thread contact that bolt normally has with the crank. I've been told that maybe using an LS7 or ARP crank bolt will get me some more thread contact and that then I might be able to run this. I'm about ready to dump it on the curb for the scrap guy, this project is killing me. If I can safely run this thing - even if I have to dip the whole bolt in loctite and know that the crank and pulley are going to get tossed if I ever need to take the engine apart so be it. Otherwise, I guess it's time to spend more money rebuilding the shortblock or buying one.
I've heard about other people having this problem. I guess I have been lucky. I use an old balancer bolt with the head cut off, and a longer piece of threaded rod welded to that to install them. I screw that bolt all the way in until it bottoms out against the bottom of the threaded hole, and then a nut on the extended rod drives them right in without issue.
At this point, if it were mine, I would pull the balancer, drill and install a heli-coil, or timesert insert. I would not just try and ram a longer bolt into the hole.. I say this only because my luck would have the balancer walk off the snout of the crank at 6000 RPM.. I'm that guy, who has that luck. So, if anything is ever in doubt-I MUST PULL IT OUT. Your luck may vary.
I’m not so sure I’d pull the balancer while I’m working on this, just to keep shavings out of the engine. The bolt in the bottom pic...is that as far as it will go in? Does it go in easily until it stops, or is there resistance?
You can easily get a tap for this, and clean it all up. Prolly won’t be a cheap tap, but it will be cheaper than another crank.
I hear you Kawabuggy, that's my luck also and why I'm in this situation!
Yes, the bottom bolt threads in by hand without too much resistance. I'm headed to my friend's shop today and will be borrowing his tap, so at least that costs nothing.
I'm going to measure how much usable thread is left, if possible. I saw the Timesert kit, was about $80 IIRC which is better than replacing a crank but of course at this point not knowing the true history of the engine, I'd be more inclined to dump a ton of money in to rebuilding as a ~408.
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Is my crank trashed? 
