Generation IV External Engine - Rebuild my LQ4 or get another?

I have a JY LQ4 with 60k on it, well I didn't bypass the oil cooler lines so I guess that's why it burned up. Only ran for about 30 seconds then seized up, still turns over kinda half ass though. But I want to swap my Chevelle with an LSX and I figure instead of buying another LQ4, how much does it cost to rebuild the one I got? If an engine runs without oil, what is it that gets messed up? There was metal dust in the oil pan.

Pull the crank and rods and see if the crank is scored. If it's just a little it can be machined and oversize bearings put in. If it's bad it's toast.