This is what I do for every unknown engine in my shop:
1) Take the Head to my very good and reliable Motor Machine Shop and have it gone completely through. Cracks, damage, etc. They will tell you if the Head is good to go. Then you can decide how far you want them to take it.

2) Take the Engine to the same place after tearing it completely down. Nothing is left together. They check the Crank, Piston Rods, Rocker Assembly, everything for serviceability. When done, there is no question about the engines performance. The entire procedure is here: http://devestechnet.com/Home/Project1959235

The problem with doing things half-fast is that you tend to leave questions unanswered. When that happens, how do you feel about pulling the engine again in a few thousand miles or less and start all over? Bryce.. take it slow and don't let your schedule dictate what the engine needs. Just MHO.

Deve

1950 Chevy 3100 Deluxe Cab
1950 Chevy 3100 Standard Cab
In the Stovebolt Gallery
The Think Tank
More info and tips at Deve's Technet