The heads need a lot of work. The valves need to be ground as well as the valve seats. The spings and pushrods look OK, but the rockers look fairly worn. I will check with my machinist to see what can be reused. I have heard that these type of "Rail Rockers" where not a very good design and I may look into upgrading them.
The crankshaft is in fine shape and so are the rods and front cover, everything else will be replaced. The harmonic dampener's rubber center is hard and cracked. The oil pump and timing gear set all have to many miles on them to be reused.
The block is in good shape but the bore diameter is on the border of a rebuild, so I have decided to bore the block out by 0.030" and install new pistons. I will get the machine shop to also check the deck for warping and resurface it if nessasary. I removed all the core plugs for the water and oil passages and will deliver the block to the machinist next.