Go to Falcon Global on eBay. Get a 'Master Engine Kit' that contains the gaskets, rings and bearings for the engine. It'll be under $300 I think. Install, good to go!
Plan B:
So I am think about possibly doing this:
408 block / stock heads / cam
What would this motor run like? About ?? HP and TQ?
Should have an easy 350hp assuming even a modest 9:1 compression and a half decent cam and induction. Could easily be a fair bit more. It'd most likely be a big, lazy torque monster under 2500rpm and then roll over about 5500rpm with a good topend.
How would this work with my basically stock converter and rear gear. I do like the gear as it's almost perfect for autox in first gear. Nice wide range from 0 to about 55 mph @ 5500rpm.
Cam will be your biggest worry with converter and ring gear. 2.92 or 3.23 is a good compromise, anything less than that and you will lose out on response and acceleration a fair bit... although 2.74's are great for highway. Anything under .475 lift and 225 duration at .050" should be quite nice with anything except a 318... then you'd want about .440 / 220' max in stock form.
What's the good and bad about this idea. I am somewhat limited in total funds and this is my toy car to wife limits as well. I am trying to get a freshened up motor done for around $3000 out the door. Is this possible?
Bad? Big expense. Lots of work. You already have a good engine from the sounds of it!
I would stick with what you have, tear it down and see what you've got. If the internals are fine then I'd re-gasket, ring and bearing it and run that sucker.