Buying a 360 engine, need advice

For $25 bones grab it, and everything that belongs to it within reach, quickly.

Also, miles don't mean much on these engines, they can go 300k on the block with negligible bore wear. So unless something is wrong, you shouldn't need machine work. Do take it apart and check it out though. Chuck a rebuild kit from northernautoparts.com such as this one:

http://www.northernautoparts.com/ProductModelDetail.cfm?ProductModelId=1761

If you want more power, get a cam regrind, bullet cams and hughes do this, bullet cams did mine for under $250 shipped both ways. Roll it.