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Need some advise here. I was in the process of rebuilding my engine and drained all the fluids. Somehow, I have managed to get water inside a couple cyclinder walls and wouldn't you know it, they are now rusted...

The engine is a 97 L31 block w/Hyd Roller Cam and only has about 15k on it. I was originally going to just slap new rings and gaskets in but now I am looking at having to do MUCH more. It looks like I am going to have to get the cyclinders bored out now. I do not know a LOT about engines and was wanting to know what the minimum is (machine work wise) that I have to do to get this engine back up to running specs. I am guessing that I will have to do the following at least:

*Bore Cyclinders
*Buy new hyp flat top pistons & rings
*New gasket set

What else am I looking at and/or any idea what the costs are going to be roughly. Reason I am asking is that I can get a newly rebuilt short block of the same engine for $700. Was wondering if that is cheaper than new pistons and machine work...
 

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If its pitted then it will definately need bored, otherwise it will use oil. BTDT
 
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