Since most people believe the old 216 is nothing but a boat anchor, there are lots of them available, either cheap or sometimes "free if you haul it away". That's mostly because us old geezers who know how to rebuild them are slowly "achieving room temperature" as the late great Rush Limbaugh used to say. There's also the little problem of the main bearings getting scarce, and/or horrendously expensive.
Here's an alternative to scrapping that old 216- - - -put a pressure lubricated 235 crankshaft and connecting rods into it. No, it's not a "drop-in" fit, but with a little creative metal butchering, it's definitely doable. You'll encounter two small obstacles- - - -the 216 block is 1/8" shorter than the 235, which would make the pistons stick out of the top, and the #3 main bearing web of the 216 is about 1/4" wider than the 235 crankshaft thrust faces. The main bearing diameter is the same on both cranks, however. It's a fairly simple machining process to narrow the main bearing web, so the 235 bearings can be used in the 216 block, and it's also possible to fit the much more available and less expensive 1955-63 235 main bearings to the 216 block in the process. The pressure lubed 235 rods and replaceable bearings also work instead of dealing with spray-oiled Babbit ones.
Now- - - -how about that pesky "too short block" problem? Buick 215 V8 pistons (Silv-O-Lite #1718) are the same bore size as a 216 (3.5 inches) and are available up to .060" oversize. That gives displacements from 227 up to 235 cubic inches, depending on the overbore. The compression height comes out correct, and the 235 connecting rod small end only needs to be reamed .010" to fit the Buick wrist pin. They're also lighter weight than the cast iron 216 pistons. A 1953-55 Melling M-29 oil pump for a 235 is a bolt-in swap for the 216 oil pump, and provides sufficient oil volume to lube the pressurized crankshaft. The rest of the 216 oil system functions as designed, after plugging the oil passage that formerly fed the oil pan spray nozzles.
I've probably just cut off my supply of freebie 216's, but I've got more of them stockplled than I'll ever be able to build, anyway!
Jerry