There are others on this site that know more about this than I do, but from my current experience looking to buy a new engine, here is a summary.
A BASIC turnkey engine in the 2275 range will give you about 160hp and cost about $5000.00. I'm guessing that the labour in the build is about $700.00. A long block will run you about $3000.00 and up, depending who does it and how trick it is.
For what it's worth I have found a big name company that will build me a 2275 or 2332 with my choice of parts (.520x294 cam, wedgeport heads, Weber 48 IDF carbs, ceramic coated exhaust, stage II pp, etc.) for $5200.00. That includes everything from exhaust/muffler to flywheel and pp, all engine tin, etc. All I would need to do is bolt it in and connect it up. That even includes powder coated tin and dyno tuning. 176hp, 153 ft pds. Email me if you want more details.
When you start getting really trick with full balancing and hand porting and polishing, etc. that adds money. If you get the work done by one of the top builders on the West Coast, that adds money. Use the best exotic parts, that adds a lot of money. Just ask George.
It is really important to get the build done right, by someone who knows what they are doing, however, even that will not prevent failures. These engines are mechanical, and mechanical things break no matter how well they are built. Also, the more trick it is, and the closer to the bleeding edge, the less life you can expect out of the engine.
