Cheap Rebuild 225

The rod bearings tend to go first in a slant, particularly #5, so I would start there first.
If the rod and mains bearings look OK I would re use them.

What will really help is just getting all of the sludge and gunk out of the oil pan and pick up.
Service the oil relief in the oil pump.
Unless you find a bearing or piston scored, I would re use them. Get them back in the hole / position
they came out of.
Other than a gasket set, the only new parts that I would install would be:
Timing chain set, and tune up items, and probably a thermostat.