As assembled from the factory they are balanced externally at the flywheel. However, they are not so far off as to require a severely off balance harmonic damper like a chevy small block 400. When I had my '70 455 built I had the option to select internal balance, requiring a neutral balanced flywheel. A factory flywheel was neutral balanced, but I am not sure I would use a factory cast iron flywheel and aluminum bell housing again for safety reasons.