This lady had previously posted pics of her engine. See the link. I think it's good advice to scrap it. The potential to salvage the engine is slim and would be very expensive.

Kim, I would shop for a decent engine. They often appear in the ads on Stovebolt. Reading your blog, don't quit yet. We all know
how overwhelming restoration can be at times. Don't look at the big picture just yet. Take baby steps.


http://s71.photobucket.com/albums/i135/jtkimothy/1950%20Chevy/Under%20the%20Hood/

Drew