Right there with ya fellas lol. If only they werent so damm good when running.
3sc0rt, it sounds entirely possible that your mechanic sux. I would suggest always go with tests, not guesses. EG compression test, ignition lead test, etc.
Best of luck with your diagnosis.. Say, is that points ignition I see there? I would be looking seriously at that subsystem.... Nothing has given me more trouble on a pinto than the ignition. I recently spent a week of spare time, replacing everything on the RS ignition system, only to find a set of perfectly good looking points were the problem. So yeah make sure its working properly.. And consider upgrade to electronic ignition as a good option.
Not that its of any use to you now... but fwiw, if you did the headgasket between 1&2, you would really really know about it. Damm awful noise, and top speed of 70Kph limping.