basic rebuild ... possible?

You never know what an engine is like until you get it torn apart and see how it is inside. I had a 74 360 that ran decent and the compression was a little highr than what you said yours checks at and was hoping to do what you want. When I took the heads off I was astounded to see the massive ring ridge. It needed bored .040 to clean it up. The pistons were completely worn out. New rings would have been a waste. You'll just have to tear into it and see what it looks like. Hopefully you get luckier than I did.

BTW: If you do eventually use that 360 in your car don't forget to either change the torque converter to a 360 weighted converter or weld on the 360 weight package onto your converter or you'll throw it off balance.