Ok im planning on rebuilding my engine due to lack of money I have been looking and come up with this from Summit Mag.

Sealed Power Engine Rebuild Kits.
Forged-10.40:1 58CC -$529
Hypereutectic 9.90:1 58CC -$459

Which would be better? I thought if it had a higher compression ratio that it would cost more :/
They come with pistons,sealed power piston rings, main, cam and rod bearings, high volume oil pump, fel pro gasket set, brass freeze plugs, plastigage and assembly lube.

Also looking at the Competion Cam Kits but not enough money for that and labor :/ Still need to research on what lift and duration i should be getting.

It would depend on what your planning to do with the car when its done. If your planning on racing this thing at high rpms then the forged set would be the way to go. If its only a street car with an occasional trip to the track then then hypo is the way to go.

isn't this a 305?
Unless it's your daily driver AND it's using more oil than gas, save your $$$ and get a 350. You can get a targetmaster type motor all new from chevy cheap, or a reconditioned long block from an auto parts store for less than a grand.

My friend made a suggestion that i just replace the damn engine since it does have 186k miles on it at least i think it does. On the title when i got it, it says exempt doesnt that mean its been replaced already? or is it just over a certain mileage.
So is it more logical and cheaper in the long run just to buy a "used" engine for under a grand and swap?
I just need to research what is compatible with my 94

On the title when i got it, it says exempt doesnt that mean its been replaced already? or is it just over a certain mileage.
You would have to contact your state's DMV info line, a state safety inspector, or a state trooper, and ask what the statement definition is. Exempt usually means "Exempt from smog inspection." But being a 94, I can't quite see this happening. You didn't provide us with a location where you live in the header/profile, so every state is different.

IMO, I'd get a new engine from GM and transfer all the available parts. Would be alot less hassle and new engine comes with a 3yr./36K mile warranty.

At least here in Illinois, a vehicle title transfer requires a miliege statement signed by the previous and current owners. Car older than a certain number of years are "EXEMPT" from mileige reporting.

They do this as a stop for rolling back odometers.

If your current engine runs ok and doesn't smoke too much or use too much oil, save your $$$'s for a while.

If the current engine is "toast" buy a replacement 350 cubic inch "long block" This will include the block, rotating assy, and heads. Everything else will easily move over from the 305.