is this a good deal?

I don't know why all of that is a bad tihng. A cast crank is still strong enuff for most hot rodding duties of not just decent, but a serious build up.
Hyd. lifters/cams are fine for street strip duties and even lite race applications.
The 1 bbl. gets tossed as quick as a 2bbl. in favor of a 4bbl. right quick, so what's the difference?

The trans can be resold and the cash rolled over into a automatic.

He's gonna rebuild it for "Hot Rodding" purposes anyway.