Unless severely beaten, most engines can get away with just a rebore and hone job. Inspect and measure things carefull before throwing something a machinst's way and saying "do this.............". Also check the crosshatch on the cylinder walls, do they look fairly visible still? How do the bearing and bearing surfaces look? How was the engine running before the incident? What kind of abuse was this engine subjected to? How many miles? These are some of the questions you should be bale to answer to know something ugly isn't hiding.
For what it is worth though, I paid an extremely competent race engine builder (and friend/co-worker) $175 to bore it, hone it, and shave the deck surfaces to clean it up. When I measured things after I got the block back, each cylinder was +/- .001" from all the usual measuring points, so............
You would also be surprised what you can reuse though, just thouroughly inspect and have things measured, the truth to what "needs" to be done will be in the numbers.
