Either would work. Depends on whether you have another ride or not. If you only have a weekend, a new crate engine would be the ticket. If you have some time, rebuild what you got. Either way is gonna cost about the same.

 

I'd rather rebuild what I have, so I know exactly what I have. Reman isn't always done to the standards you'd like, and isn't as conducive to upgrades like gt40 heads, a better cam, etc. If you have the time, ability, and a reputable machine shop available I'd rebuild. Do your homework if going this route.

Assuming your current block is a good core, one conundrum is whether you want to use your non roller lifter block (then decide flat tappet or link bar roller lifters) or get a roller (94'+) block for a roller cam setup. 94'+ blocks have a known cam bearing crack issue (though I've never seen this actually cause a problem), and link bar lifters are expensive, but modern oils aren't meant for flat tappet cams either.

Anyway, just food for thought.

 

Rebuild would be better than remanufactured. I have seen handfuls of bad reviews about remanufactured. One horror story was about a head gasket that blew a week after installation at only a few hundred miles.