The difference between a pita and a smooth job is having everything well labeled, photographed, and clean. The problem is: why put a yucky engine ina nice shiny new engine bay? Personally I would replace rebuild everything and I would end up going over budget. But then again, a fresh coat of paint in the engine bay will make the car more impervious to corrosion. Do it! but be sensible! Also, make sure you have a carport or garage and an engine lift. Wouldn't hurt to get an engine stand so you can detail or work on engine while the car is in the paint shop! plan it out as to what will need to be replaced, some things just don't make any sense not to replace while the engine is out