I have rebulit a few they all have held up. But for the time, effort, margin for error, and money I got to say slapping in a long block for $800 sounds good to me. You could do it all on a Saturday and be on the road.
Most SR importers have several long blocks instock that they stripped sensors off and what not for other motor sets.
Just check the compression before you buy. Slap a tranny and starter on and use a battery to turn the motor over a few times to make sure you get good compression.

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KAPOWER
414rwhp - HKS, GReddy, ARP, GT30R........