Damn. I am thinking about sireland67's approach. Slap a cam and lifters in it and see what happens. I am going to try doing a little mig welder buildup on the manifold...got nothing to lose. Keep it cool and build it up slowly.
No water in the oil (I know what that looks like) but like I said the engine hasn't been really run since the "rebuild". Or so the seller said. I will likely stay with the SB so parts are reusable if the block turns out to be crap.