Hmmm,yeah probably a cheap valve job will do,maybe.Like Chip says, the beware of creeping costs.
I'm thinking this engine was redone not that long ago,the valvetrain and head is spotless ,red painted valve springs, and when I drained the old oil,I probed into the drain bung with a wire,no crud to be found.
Jerry, I did a few in frame overhauls back when,they worked Ok ,especially on a vehicle that won't accumulate a lot of miles.
The owner of the local machine shop owes me a favor, probably get the head done properly for just the cost of parts.
Or I can do nothing until a running 235 falls my way, but there is some nostalagic value in the old babbit beater.