There is nothing wrong with a high mileage motor as long as you replace all the parts needed to make it fresh. The more seasoned the block the better! Back in the day they would use high mileage blocks, like 100K, due to the fact of all the heat cycles it's been through and they knew that the block, "metal", is now conditioned and won't change shape, warp, etc....
So just get a parts list together and go for it!! All new gaskets everywhere, new chain, oil pump parts, water pump, check your gears and rails etc...
My recipe is S50 pistons shaved 2.65mm, dished and reliefs cut for 10.85 compression. Use 138mm aftermarket rods and the small end needs to be honed to fit the 22mm S50 piston, with the M47 diesel crank that has the nose turned down to fit the crank gear and a new keyway cut.
The secret is the rods. Trying to keep the longer length but still making up the difference to use that piston. Try looking in the world of B18C GSR. It's a perfect fit! If you use the S52 piston then you shave off even less and gain more displacement, 86mm vs 86.4mm.
I'll have a complete write up once my car is finished. I'm in Thailand now getting married, honeymoon etc..... Should be done in Dec.
The cost is not cheap. But then again how far do you want to take it. Head porting? Exhaust, muffler? Cams, litters? Engine management, hard chip?How much of the work can you do yourself too? It's really hard to speculate but maybe someone who bought one can chime in? I built my own and didn't want to really keep track. There are so many costs that pop up when you least expect it. Lol.
Cheers,
~Ralph