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Or if you are going to be modifying it for increased power.
But as long as the compression and oil-pressure are within spec, and you don't have any knocking, rattling or ticking, there is no reason to rebuild the engine. You could easily go another 50k-100k miles on that engine before even thinking about a rebuild, if it is maintained properly.
Of course, if it was neglected its whole life and is knocking and rattling with no oil-pressure or compression, then now would be the time for a rebuild.
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.