A ground up restoration isn't a huge deal if:
A) the car is NOT your only mode of transportation
B) you LOVE surprises (it's amazing how much you can find that's wrong once you get in there)!
C) you want a reliable car
D) you've studied advanced meditation techniques for half a lifetime in Tibet and are as such only half as likely to quit the project and part out the car
OR
E) you have a VERY unnatural love for inanimate objects.
If you're hoping to make big power down the road you should consider a full rebuild anyway.
HOWEVER, a full rebuild isn't necessarily a requirement. You can inspect and replace the required bearings and have the crank polished and get another 100K out of the engine. I'd replace the oil pump while you're in there too.
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