Joe is absolutely right about a block with pistons in it trapping water. I just rescued two MOPAR 383 bare blocks that have been sitting out in the open, exposed to the weather for 15+ years. They both have surface rust on the cylinder walls, but no serious pitting. Both engines are going to get built up with 460+ cubic inches with .060" oversize pistons and 440 crankshafts, stroked an extra 1/4".
Jerry