It would be a waste of time doing all that work without checking each cylinder by measuring the cylinder bore with a telescoping gage and checking to see if there within specifications. If there not, you would need to have them bored.
I would even invest in some plasti-gage and check the clearances of the main bearings and journals.
All the above is ALOT of work and would be so much easier with the motor out of the vehicle.
With that amount of miles, the engine would need to be checked thoroughly.
You can not make short cuts when doing engine work.
Its your call. And i thought Autozone employee’s only received 20% discount?
It might be cheaper for you to buy a salvage yard motor with less mileage.