Engine Rebuild options

I've been putting a lot of thought into what to do regarding the engine. There is a 2nd 350 small block motor that Jim included in the deal. His plans were to build up the 2nd motor and take it into the 350-375 hp range and just store the original motor to maintain in the event of sale. I am about 99% leaning to this same approach. There are quite a few things that I have been able to learn.

From this article on Vortec heads:

http://chevyhiperformance.com/howto/97458/

as well as this step by step that they went through in evaluating the upgrade of components one at a time:

http://www.corvettefaq.com/c3/goodwrench/GM%20Goodwrench%20350%20test%20part%201.htm

I'm heavily leaning to the Vortec heads for the 350 buildup. I think I can do just about everything I want to in a budget of about $1500 for the engine. But of course this low price would mean I'm doing a vast majority of the rebuild work myself. The old motor already had the original heads pulled and there is some surface rust into the cylinders and exterior of the motor. I need to find a machine shop that can pull all the motor plugs and do a hot dip and flush on it to get everything out and then build it back from the bottom up.

As for the original motor, just store it away and therefore I wouldn't do a thing to it. The Voertec head requires a different intake to fit it anyway and I'd prefer to have a new water pump on the 2nd motor. About the only thing potentially worth using would be the carb but that is debatable if worth doing considering how far I'm going. So it looks like I won't use a thing off the original motor. It will end up being a survivor engine!