I would rebuild what you have. Parts are not that expensive, it's the machine work, so shop around. Do as Starfire4 mentions, and add 307 Chevrolet V8 true flat top pistons. They are a true bolt in and will raise the compression 1 point, to about 9.0 to 1. You will still be able to run regular gas but the added compression will help in the power department. Do as much of the nasty work as you can and save some money. Shop manuals will tell you how to assemble or take apart.
Joe
