I did a complete freshen of my 383 when I built the Satellite. Mine was a good running motor that was removed about 2 years before I got it. As for the block we cleaned everything inside and out. We did not hot tank it and used the existing cam bearings. Cylinders still showed some crosshatch as the engine only had 52K on it. We ball honed the cylinders and reinstalled the factory pistons with new rings. I had the crank turned 10/10 and installed all new bearings. Rods are stock. We used a small Lunati Hyd cam shaft. I had a set of 452 heads laying around so we used them to pick up the hardened exhaust seats rather than spending the money to have them installed in the original heads. New parts included the timing chain, oil pump, bearings, rings, gaskets, fuel pump, water pump, distributor and carb.
If you do the work you can do yourself you should be able to do it for about $1200.00 depending on how many accessories you buy new.

A buddy of mine went the other route and just pulled a 383 out of a derby car and installed it in a daily driver. The only thing he did was clean the pan and p/u screen and install a new oil pump. 2 years or so on it with no issues other than it smokes a little on start-up and does burn some oil.
It's your call, condition of the current engine will dictate what you need to do.