Advice on engine rebuild

[mustangjz29]

I've had my '87 5.0 sitting in my garage since three years ago when I blew the head gasket. We recently started to rip the engine apart to make sure it was head gasket and to try to fix it. The compression test was OK on cylinders 1-4, but 5-8 showed something definitely wrong, in fact cylinder #6 didn't even register. Well when we pulled the heads off I did notice the gasket was blown; however, we also noticed the gaping hole in the piston #6 (detonation?):


My question is what is the most budget friendly way to go about fixing this? Is it possible to just replace that piston or do I need a new long block? I've already bouight a fel-pro gasket kit.

thanks

[goodyear1984]

well if ur going cheep and dont really care then buy 1 piston if the cyl wall is ok.you cant buy rings for 1 piston so u do all of them then it wouldnt be a bad idea to replace the bearings and oil pump.also check the valves,if u dont know who to check them all u do if flip the head over and pour gas in the chamber and see if it leaks into the runners..it was prolly running lean on that cyl so id get new injectors un less theres a wiring problem.