Thanks CM, that is some good direction.
500hp would be plenty for me, for now.
I think that's what im gonna do. Dissemble, check it out. Get it honed. Rebuild.
That is exactly what my buddy is doing with his 6.1 block that has been sitting for a while (actually has a small amount of surface rust in the bores). We think it spun a rod bearing. He's going to get it hot tanked, inspect the bores, hone the bores, put in new cam bearings, file fit rings (larger top gap than factory), put in all used pistons/rods/crank, new crank and cam bearings, new main and rod bolts, new head bolts, and go.
Here's a quick breakdown I put together when I was headed in the same direction you are (I had a spun rod bearing 5.7 that I was going to tear down and build back up with one new rod/piston):
Hopefully that helps you to some degree. I'm not sure how current the prices are, as this was put together 2 years ago.
That's also when I decided to build a forged 5.7, as I was able to get pistons and rods for $1050, and I already had a 6.1 crank.