Kenny,
You say it is not a stovebolt, so I am assuming it is a V-8. No matter what engine it is though, there are several low cost steps to take that will help to make your decision much easier.
The first step I would take is run the block and crank over to the machine shop and have the machine shop measure the cylinder walls and crank journals and confirm that they can be machined at all.
If there is still enough meat on the cylinders to bore it and the crank is in good enough shape to use, then the second step would be to have them clean and magniflux the block and crank to make sure there are no cracks.
If there are no cracks, then you can decide where to go with it next. My advice would be to sit down with the sales rep at the machine shop, and have them lay out the cost of the labor and parts you will need to spend in order to rebuild the motor.
They will be able to tell you based on those two inspections, what size pistons, bearings and other parts you will ultimately need. Then based on a comparison between the cost to buy the parts and having all the machine work done, look at the prices of both short blocks and long blocks. Sometimes it is much more economical to go with a rebuild than mess with what you have.
If you decide to have them do the work, also get an estimate from them to reassemble it for you, if you aren't comfortable doing it yourself.
Whatever you decide, have fun!
