I've seen a few engines that got watered down in a local lake here and after a certain flood some 20 years ago. The water won't kill it but, all the sand, dirt and lil weeds and things you would never imagine find thier way into every nook and cranny of an engine. You might get it cleaned out enough to run but it won't last long.
THa ATF thing though will work for cleaning out engines. I build about an engine a year and when I finish there's about 40 pounds of lithium goo because that's the way I was taught to assemble an engine. Lossa goo! I've alwayd notices some kind of red oily stuff on the pieces parts he works on and I finally asked him about it thinking it was some kind of myustery miracle lube I could use. It's ATF. He said it has detergent qualities that help to clean out a new new engine as well provide a little lubrication upon initial startup. I have recently begun to slop ATF on everything during assembly instead of the white goo. So far the last engine seems to be no worse for wear. (I always prime before starting a new engine. . FYI)
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