A rebuild will cost at least twice the price of replacement engine; the problem with a replacement engine is finding a reliable source, as you know what's advertised as a low mileage tested JDM engine with guarantees doesn’t always turn out to be true. If you go for a rebuild then the first thing you will need to establish is the condition of the crankshaft, very expensive to replace if you can find one. If the big-ends have gone then the crankshaft will need to be checked for hairline cracks. You would learn more about the condition of your existing engine if you could get it up and running before making a decision. To answer your question yes I’ve done both, but that’s a very long story. Try and get that engine up and running first, what sound it makes what comes out of the exhaust what's inside the oil filter will give some idea of its condition.
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