Yeah, how about some diagnostics - like rate of oil consumption and compression or leakdown numbers.

Obviously there is some wear on an engine with 214K miles, but if the compression and/or leakdown numbers are decent and oil consumption is reasonable, the internals don't need any attention. At best if the compression/leakdown is okay, but oil consumption is high, it may just need some new valve guide seals, and at worst it might need the heads refreshed including new guides.

A proper rebuild is going to cost far more than the car will ever be worth and a used engine is just inheriting someone else's problems.

Duke