In Reply to: Oh crap! Need an engine! posted by Chris 75 02 on September 09, 1999 at 13:46:11:
Several years ago my original engine needed a lot of work and I researched rebuilding and rebuilt engines. Since I would not attempt rebuilding my engine myself (valve job, main bearing etc.) cost for a good mechanic to do this was expensive. I shopped around for a rebuilt engine and ended up getting one from a local BMW dealer (prices varied considerably from dealer to dealer).
My brother, who is a mechanic, encouraged me to do the engine swap myself. With his support I was able to complete the task in 2 weeks at a fairly leisurely pace. This may seem like a huge undertaking, but if you have the space in the garage and a friend to help, I highly recommend it. It was one of the best investments I've ever made and increased my confidence as to what I was able to tackle in maintaining the 2002. I now have over 90k miles on the rebuilt engine and I am still happy with its performance.
I figure you're half way to a rebuilt engine by paying for the bottom end rework and there is probably other repairs needed you will find as you go deeper into the engine. If you can swing it, go for a rebuilt engine. If you're not a BMWCCA member its worth the $35/yr to join and get the member discounts. I've had to break down and buy parts from the dealer on occasion and the 20%+ discount helps lessen the sting of their markup.
Sorry for the long post, hope this helps and good luck.
76 golf still humming