Gorn put together a pretty extensive list, but like any list, there are bound to be a few things that have been overlooked and won't come to light until you are elbow deep in it. That is where a buddy or relative with a lot of real world experience can be a life saver (and serious money saver). If your Dad and friends are actual machinists/mechanics, then I would say learn all you can from them. But I suspect they both fall more in the shadetree category as you came here to ask for a cost estimate.

Please, do not think that I am bashing on your Dad or friends, I am not. But in my experiences, friends and relatives often leave something to be desired when it comes to machine work and engine building, unless they are professional machinists. My uncle Greg is a machinist and my uncle Ron is a heavy diesel mechanic and they have helped me on several projects over the years. They have each corrected information that I got from my other relatives and friends who "know how to do it". It shows that over 40 years each as paid professional mechanic and machinist really do matter. It is all they do, and all they have ever done.

I can do some simple machine work myself, but honestly would rather leave it to someone who does it all day, everyday. At least I know that they will do the necessary work right, the first time, and a whole lot quicker than I ever could. It only takes a small "oops" moment to ruin a head or block.

 

I understand that your not bashing on them. I mean there have been times where my dads needed one my Uncles help and vise versa. I do know that my family grew up around cars and racing and that's pretty much what it boils down too. He can do just about everything to a vehicle. But if it came to down to something he couldn't do, I'd take it to a shop to have it done. I'd just know he could do a lot of it and well that's good for me because it saves me money for other stuff. Ha.

I actually did ask my dad about it. He mentioned that just the machine work on the heads and block would cost around $1500 or so if a shop was needed to do it. I just wanted to see how close his thoughts were to the knowledgeable folks on here.

 

$1500 sounds about right depending on the shop and what all they do. Could be a little more or less depending on what options on the machine work you want them to handle.

 

Have you thought about picking up another engine to go through this winter and putting it in this coming spring? Switch over fuel and ignition and you're good to go with out the expense of an additional vehicle.

 

I have thought about that. But LT1's are not very inexpensive and finding one in my area is hard. And since I don't have truck anymore, I have nothing to haul it with. Plus, you don't know what you're really getting till it's all torn down. In the long run, it seems to me that it'd be cheaper just to rebuild the one I all ready got.