380SL engine rebuild possible/worth it ?

[84 500SL Euro]

I've recently been told by two different independent mechanics that my '82 380SL is burning oil and needs a rebuild. If you floor it, a good bit of smoke comes out the exhaust and it is burning oil based on the necessity of occasional topping up.

Question 1: Given it's aluminum block, can it be rebuilt at less than an absurd cost, and, even if you do a lot of the work yourself ?

Question 2: If yes, to #1, what "minimally" should be done ? What "optimally" should be done to render the car usable for the longest period thereafter and avoiding "going back in" ?

Question 3: Recommended source of requisite supplies/parts/tools and procedure information, e.g. videos, publications, i.e. where's a good source of info on this process ?

Question 4: Given that future resale is of no consideration, that is, only future use,.... if a rebuild can't be done why not, or... why do you not recommend it ?


Question 5: Other than scrapping the car, alternatives to rebuilding that particular engine are ... ?

Question 6: Is any poster willing to be emailed personally regarding questions that arise during this process ?

Question 7: Has any poster done this to a 380SL and what caveats/recommendations do you have, please ?

If it matters, I'm in Atlanta.

BTW, time is no constraint since I have other wheels.

Thank you to all respondents,

Courtney