Need help 88 tbird

My tbird over heated and now wont start it is v8 efi 5.0. No water in oil but i have low compresion "65" in one head and 0 in next one up. Should i replace engine how hard will it be? or get new head gaskets?

I would say it depends on how many miles the engine has on it. Can you move the crankshaft back and forth without the distributor rotor moving (loose timing chain). If you decide to install head gaskets you should have the heads checked to be sure they didn't warp. Can you find a low priced engine to replace it? How much money can you spend? What kind of shape is the rest of the car in? You don't want to spend more then the car is worth. It may be cheaper in the long run to part the car out, sell it as is or scrap it and buy another vehicle.