Build up the 235, and see if anything about the old 216 is salvageable. Engines that sit out in the weather like that one often fill up with water, then freeze and thaw repeatedly and get all sorts of stress cracks in the block. Rocker arms, pushrods, connecting rods, the oil pan and valve cover, and other steel parts can rust away to the point they can't be cleaned up and re-used.

If you can rescue the block and cylinder head, do so. Somebody who needs a casting to rework will give you a few bucks for those parts, but it sounds like the 216 is probably too far gone to rebuild.
Jerry

EDit: Can't find the pics of the 216.
headscratch headscratch headscratch
Jerry


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