When was the last time you saw one of these (mystery race engine purchase)

I think it's a fairly stock engine with a box of parts, but the only way you'll know is tear it down and document the thing. Compression ratio, springs, etc etc and build quality, torque values, clearances, WTF knows.

Just remember, that EVERY used, oily, "double hump" Chovit was a "Corvette engine."

I see some cool parts that are bolted together.

When they are bolted together there's less chance of missing pieces. But it becomes a mystery box of what parts are in there and their condition.