Disaster struck - 350sdl threw rod!

[Micfax]

Any thoughts or advice for us . . . ?

Realizing the problems encountered with the 1990 350sdl engine, my family has enjoyed driving a car we bought from the widow of its original owner.

The 350sdl had 196K miles on the odometer when I took it home. The condition of the exterior and interior was exceptional. The engine started without hesitation and with no smoke from the exhaust. It accelerated smoothly and proved to be an efficient and strong engine.

Three years later, at 232,754 miles and without warning the engine threw a rod last week. The engine is beyond repair.

The options we face include:
1) scrap the car even though we do enjoy driving it
2) replace the engine and accept the cost as part of enjoying this car.

Are there other options?
Any thoughts and suggestions will be appreciated.
If you feel we should replace the engine and can offer any advice for sourcing the replacement your advice will be welcomed.

Thanks in advance for your guidance!

Mike