kind of funny you are asking this question.. i did what you are trying to do. and right now my head is at the machine shop...
there is a crack between #2 cylinder between the exhaust valve the large coolant channel, evidently this is a very common problem on our heads, the machinist knew exactly where to look, he said almost every head he sees has a crack between the exhaust valves and a coolant channel... doesn't look like you have any cracks which is good
my head also needed a valve job, and a re-surface.. someone had "belt sanded" the head to resurface it. this is supposedly a cheep way resurfacing the head....
From my experience, i would tell you at a minimum take it to a machinist, get them to dye check it for cracks, and pressure test it. if i would have done that. i would not have my head off again, after 1,200 miles after the rebuild.....
so far the cost for my head is going to be 450$.. they are going to call tomorrow and update me.
if the machinist you take it to gives it a clean bill of health, then i say go for it... also keep in mind they will be able to see/feel imperfections that you can not see over the internet.....
oh, and those damn exhaust valves are 61$ each from getbmwparts.com that was the least expensive place i could find them online.
if your guides are not in great shape, i would replace them.. i have a buddy who lost a head due to a broken chain guide.. i replaced all of my chain guides when i did my build, because i did not want to worry about 20 year old plastic that is in almost constant contact with a chain spinning at 2,000rpm+....