If your lucky you'll just have to redo the top end but you won't know anything until you crack it open. Once the head is off you can check the cylinder walls, valves etc. I'd just save my duckets and get it reBUILT. PEACE
About the only way it's not rebuildable is if the block is cracked or the pistons have fused themselves to the cylinder walls. If you need a new motor you can find them used just about anywhere.
For expample http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&rd=1&item=7946556118&category=33615
A rebuild is gonna start at 2000.00 and will go up from there depending on the parts you use. Good Luck, PEACE.
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