Doc,
My 91 was in similar fashion when I bought it. I pulled the head and dropped it off at NAPA and they completely refurbished it for about $150. I also did the rings and rod bearings just for peace of mind, but they were in pretty good shape. With this forum and a factory service manual it was a good experience.
BTW I hope you don't mind but I used one of your engine pics in an earlier post to help describe some wires I'm missing. Thanks Dave