I think the rebuild alone might chew up the $1000.00. If you think about the machine shop work, hot tank, mag, bore & hone. Maybe do a .010/.010 on the crank, new bearings. Freshen up the heads a bit..that could run an easy $550.00. Then new rings, a gasket set....looks like about $1500.00 alraedy. Remember there is a reason it's smoking. Could be valve problem, ring problem...who knows until the crack it open.
Ron
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