If no rust and the rest seems like its been well maintained, I'd definitely think it would be worth it. You can likely find a pulled engine from someone doing a swap for $500-1000 and rebuild it on the stand or just throw it in there figure the rest out as it comes up. The other things like hoses, belts, fluids can nickel and dime ya but you can do that as time/money permits. If you can get the price down a little bit more, it'd be a good score!
Richard