Mid to late 70's Chevy V8s were terrible about roasting starters. As
noted, this won't be the case if you have "vapor lock" in the
injection lines.
I'd lean toward a leak on the suction side of the fuel system. I'm
not familiar with that particular engine, does it have a distributor
type pump or an in-line? If it has unit injectors, you definitely
have an air leak or a bad supply pump.
I doubt it could be a compression problem, as that would give you
fits starting cold, not hot, and would produce copious white smoke as
you cranked and it did not start. No smoke, it's a fuel supply issue
somewhere.
Peter
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