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I think it's a keeper; too high on the price though; on any given day at the local U-Pull it any SBC short block is $250 (and that's basically what you're buying)....probably wouldn't find as low of mileage or 4 bolt (assuming it is a four bolt) main...but still, with a little luck, and a little searching, it's not unheard of to get a pretty nice short block at a bargain "one price fits all".
And I doubt its frozen up....I would soak the bejeeber's out of it with penetrating oil, clean the deck surfaces, clean the cylinder walls with a scotch brite pad, replace the rear main seal, etc and think "happy thoughts"
I think somebody gave a kid the motor,and he really thinks he has something,An adult wouldn't mention the original price of the car,and the fact that it even had a roll bar...I don't know why,( if the story's true ) they didn't sell the motor when new,and why is it tore down like it is..Real car people wouldn't let the walls rust like that....But I may be wrong.
The seller will make more money selling whatever it is he's smoking!
If you need a block, find a cheap 2-bolt main block for $100 or so. Have it drilled/machined for splayed 4-bolt caps and you'll still be money ahead with something that is golden for well over 500hp