Thanks for all the responses. It was what I needed to hear (Not necessarily what I wanted to hear though). It will be a total rebuild.
Also spent the day checking things out the engine on stand and discovered another problem I was unaware of. I was checking the Piston Height since I will be going with new Aluminum closed chamber heads when it goes back together and it seems my Crank was not ground correctly when this engine was rebuilt all those years ago.
Cylinders 1 & 2 - +0.009
Cylinders 3 & 4 - +0.018
Cylinders 5 & 6 - +0.018
Cylinders 7 & 8 - +0.023
When the engine was rebuilt we had a local machine shop turn the crank .010/.020. Not sure how well things were checked when the engine was assembled back then. At least I think it is a crank issue as it is the same for each side of the engine.
If I got to pull the crank and there are issues with it, Looks like I will be shopping for a Stoker Kit. Anyone in the market for a slightly used Kidney, I got one I really need to sell to fund this little screw up.