Yes you could buy a later upgraded spec motor and just boost it ECT, or have the enjoyment and satisfaction of working on and building your own motor! One of the best things imo is that you can save up and buy the pieces needed for the rebuild I.e ,rods, pistons, bearings, harmonic balancer, valve springs, and the like, then when you're ready pull the motor, have the head worked and fitted with the new valve springs, have the block acid cleaned and cylinder bores honed to specifications for the new pistons rods ECT. And have the knowledge of what's in your engine and what the parts are, and can handle power wise. But that's just my 2 cent's worth 🙂
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