Little update for those who are wondering.
Nothing has happened. Garage is cleaned up, so I feel like I shall work on it some more.
I'm going to tear it down to the bare block, and inspect the main and rod bearings (also see if its been gone through before). If they look good and are standard size, I will get new standard sized bearings. Same with the rings/pistons. If I can clean the cylinders up myself, I will just get standard sized rings and go at it.
Rings, main/rod bearings, and a full gasket kit are roughly $550 shipped. After that I will re-assemble, and try to start it up while on a stand.