how much a rebuild will cost compared to a crate motor depends on how much work you can do yourself, and what kind of deal you can get on parts. if you can do most of the work yourself, and leave the machine work to the shop, you can do the job for about $1500 depending on labor rates in your area. the big advantage of a crate motor is that you can do a swap in about a weekend instead of the usual week or so for the average back yard engine build.
Wow, you must have great labour rates where you live, my machine shop bill was $2000+ and then parts....
Just looked at my list and machining and parts added up to $2800 and then I had someone else do the build with extra head work done
Machine work can be very expensive, but as far as parts go, you should be able to come in under a thousand, especially if you are not changing up the heads, cam or intake and carb. If you access to a few special tools, you should be able to rebuild the engine in a weekend, after it comes back from the machine shop. It isn't really difficult to do. You will need a good torque wrench, and a ring compressor, in addition to the usual sockets and wrenches.
http://www.summitracing.com/parts/fem-mhp172-311/overview/make/ford
You will also need to either get a new harmonic balancer, or look into getting your stock one rebuilt.
If you start looking at changing cams, torque converters and rear gears, then your costs of course will go waaaaay up!
I haven't heard that before on the harmonic balancer, assuming there's nothing noticeably wrong with it why would you need to replace or rebuild it?
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