Quote:

once the block/crank is in the shops' possession they WILL persuade you to part with a hefty sum of cash.



I can agree with most of what you say but the above.
This when the OP uses the NO option. In Ohio, if they want to do work that is going to cost more than $25.00 they have to provide a written estimate....so it's real easy to tell them exactly what you want done. No BS required- just man-up and say No.
I normally call around and get prices on exactly what I want done.
I have a couple local shops that I deal with and they know not to futz me around trying to add on services.

My opinion- tell 'em you want the block boiled out and inspected before they do anything else. That should only cost you 50-75 bucks depending on the shop and the area you live in. If you don't have a machine shop handy, most radiator shops will do it for you- but they can't provide inspection, just the boil out.
Once it's clean and everything checks out, have them do (at minimum) the freeze plugs, the cam bearings and paint the block.
This should be under $100 IF you provide the parts.

On the crank- have them clean it, and inspect it. If it's OK, then have them drill for the pilot bushing. Shouldn't cost more than $20-30 to have that much done.
If it needs turned, then it needs turned- there really is no way out of this. You cannot expect any kind of damage on the crank bearing surfaces to make a good runner. You'll kill the crank fairly quickly.
Cross drilling should be obvious when you have the crank out. If it is missing, then I wouldn't sweat it too much for what you are asking of it.

Also don't forget to replace the timing chain with a decent double roller unit. Again- they are pretty cheap, and if you are putting in a new cam, required. If the cam is available with a matching timing chain as part of a 'combo' then do it....cheaper that way.

On the cam, look for a nice RV grind- something that builds torque, not HP. For your purposes, you want more grunt off the line than top-end, so something a bit milder would be in order.

I wouldn't mill the heads unless they require milling to get the gasket surfaces flat again. Remember that when you do mill a head, you are going to have to take the intake into consideration when you decide how much to have removed. Also- Higher Compression means higher octane gas requirements means more $$$ to put gas in the beast. If you are looking for low buck you don't want to have to dump Premium in it and 4 something a gallon.

Finally- as other have pointed out, and I'll point out again-
Do it right the first time, because it sucks to have to pull the whole thing out again because you went cheap on something simple- like bearings, or the crank end seal, or something yer going to smack yourself for later.

As I stated in my first post- I'm a cheap SOB, but engines and transmission are the one place it does not pay to be cheap.....
You can swap meet for the hard parts (heads, intakes, exhaust manifolds/headers, carbs and distributors), but for the wear items, get the best you can afford and replace everything.
And keep in mind resources like Napa, and the phone book when looking for these parts. Not everything has to come from Jegs/Summit/Mancini, etc. Local companies sometimes are better....

Good Luck,
CC.