Hi
In January, I had the same thing. I'm a bit older than you, (50 next month), but have never had an engine requiring internal repairs. The gasket was Ok, but I had some leaking valves (4, it turned out). My son is 16, and interested in cars, but hasn't done a lot of hands on stuff, (preferring to drool over desirable ones, or watch motor racing).
We jointly made the decision to do the job ourselves - at least the removal and replacing. The head turned out to be cracked as well, requiring welding. Australian Dollars probably aren't directly comparable, but I was quoted about $1000 to do the job, and about 2-3 days. We ended up doing it for about $500, replacing the valves and having the welding done. We only had one problem - the inlet manifold gasket weeps slightly and I've just bought a new gasket to have another go(on the carb models it is water heated). Oh, and another wire in the rotting wiring harness gave up the ghost (to the distributor), and had to be replaced. We took photos with a borrowed digital camera all along the disassembly way, just in case we couldn't figure out what connected to where. Only had to consult it once.
We had a Haines manual. We had the car off the road for about 5 days, and fortunately my daughter was staying with us, so I could borrow hers to deliver and collect the head.
Both of us learned a lot. Paul was so interested afterwards, that he has arranged to go for a weeks work experience with a mechanic next month, as he thinks he's like to now do it for a living.
I guess you have to make your decision and run with it, balancing all the factors. If it was just the gasket replacement, it would be a low cost job from a parts point of view, (gasket kit and head machine) and I'd guess you could afford to re-do it 6 or 7 times for the cost of the professional doing it. If you can afford to have the car off the road that long, that is.
Alan
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