Well went and checked out the 292 last night. It starts and runs. Didn't smoke and sounds good other than noisy lifters. According to the owner the engine has 84,000 miles, which is great for an inline. I'm getting the engine (alternator, starter, manifolds, carb), motor mounts, 4 speed trans and drive shaft for $350.
Now I need to pull the head off the spare 250 and drop it off to be machined. Hopefully I can find a good shop thats not too expensive.
J'aimi