Marc,
The IO-550 engine is quite a different beast than the 520. One of the reasons that you hear quite varying opinions on the durability of that engine, I believe, is that many pilots have not learned to run the 550, and as a consequence have fried quite a few cylinders over the years.
The 550 runs at 2700 rpm maximum, compared to 2850 for the 520. The 550 is approved to run at that power setting all day, whereas the 520 is limited to five minutes at max rpm. So, that's one difference.
First power reduction on a 520 SHOULD be to roll the rpm back to 2700 right after takeoff. That takes the engine from ~300 hp to ~285 hp.
First power reduction on the 550 is generally to roll the rpm back to ~2500 to 2600 rpm and climb at full throttle (which burns a lot of gas), or come back to 25 square.
Fuel flows on takeoff are critical in both engines, because you're using fuel for cooling. We set fuel flows for takeoff up as prescribed by Continental (and the placard on the instrument panel) for the IO 520, but in the 550, I wanted to see 29 GPH indicated at takeoff power. Again, its a big engine, and cooling during max power is critical. Your mechanics may argue that's too high, but we found out the hard way that 29 gph at takeoff power keeps the cylinders happy.
As to leaning, I believe Continental prohibits leaning at power settings higher than 75%. Check your AFM Supplement.
Which conversion does this 206 have--Atlantic Aero, Wipline, or??
If you can find someone with an Atlantic Aero conversion, ask them to copy the power charts for that engine. They are really nice, and aren't a direct fit for the IO 550 R or others (AA uses the N model 550, which is rated at 310 hp, and has a tuned induction-a very sweet engine).
In any case, do a little math. This is where pilots get in trouble with these engines. Here's the kicker:
You are trying to set, say 75 % power. In the IO 550 engine that would be 225 horsepower (75% of 300 bhp). In the 520, though, 75% power would only be 214 hp (75% of 285 CONTINUOUS bhp).
So, most people used to running 520's run them in cruise at, say 24 square, which may put you somewhere around 75% or so.
In the 550, though, if you run at 24 square, you are up around 85%, and if you lean at that setting, you are violating the manufacturers recommendations.
The 550 makes horsepower at much lower rpm than does the 520 in other words. Consider that the 520 has to turn up 2850 to make 300 hp for takeoff, while the 550 can do 300 at 150 rpm less.
Also note that, because Continental changed the method used to rate engine horsepower between the times they built these two engines, the 520's rarely make 300 honest hp for takeoff. They were rated at +- 5 %. The 550 is rated at +5 -0, so every 550 MUST make rated hp. As a consequence, they all make more like 305 to 310 to ensure they pass inspection.
Bottom line is that they are different engines. Treat them VERY differently. The AFM supplements should give you recommended power settings and leaning procedures for the 550.
I ran a 550 D all the time at 2300 rpm, 21 inches of manifold pressure (variable with altitude, but generally low level) and leaned to 50 LOP for a fuel flow of just over 13 gph.
I think one of the problems with these engines is pilots are not taking the time to learn the different operating procedures, and as a consequence, the engines early on ate a lot of cylinders. I was told that the cylinder design has also been changed, but in any case, these are great engines, just dont abuse them.
As to oil quantity, I always look for ~11 quarts in these engines at the start of a day. Some engines are a little more prone to throw a quart than others, so there is some difference in individual engines. In any case, I wouldn't start a day of flying with 9 quarts in one of these engines myself.
MTV