Actually, that's really cheap as far as engine rebuilds go. I've got 10 grand into a 427 Chevy big block so far.

Compared to a 502 crate motor, is it worth it? Probably not. But then again, SCCA will let me race a 427 but not a 502.

Make sure you tell the instructor to have the students bore the block with the correct plates bolted up where the heads go (the name for that escapes me at the moment..."hone plate"?). But anyway, if it's overbored without that plate bolted down, it will result in an out of round condition when your heads get bolted down.

52 GMC 3/4 ton pickup
68 Big Block Vette
68 455 Firebird