Jasper MAY have a long block for the JD 1020. I got one for a JD 2020 4-5 years ago. It was $6500 then. I would rebuild what you have unless you know the block is junk.
What I have been doing to the older engines that I plan on keeping forever:
1) If the crankshaft is not useable without being ground I replace it with new or good used with standard size journals. 2) The cylinder head completely rebuilt including new guides, springs, keepers and valves, all surfaces ground, entire head magna fluxed for cracks. 3) New cam shaft with new bushings installed in the block. 4) New oil pump complete with new oil lines too. 5) Injection pump and injectors rebuilt or replaced if not able to be put at factory NEW specs. 6) Connecting rods remachined to factory specs. 7) New cylinder kits of good high quality parts. 8) Have the radiator cleaned and checked. 9) On assembly I use new head, rod bearing and main bearing bolts.
On a JD 404 out of a 4020 I will have right at $5000 in parts and machine work. The labor would be on top if it is a hired job. On a JD 466 like in a JD 4440 it is closer to $7500 plus labor. Now these engines are basically back to "factory new" specs when I am done. I also usually Dyno these engines to ensure the rings are seated. This takes 8-10 hours with break in oil. I also readjust the valves after the first hour or so.
Most guys will not spend that much on a older tractor. I really do not blame them unless they are going to keep it for YEARS. Then a complete rebuild is cheaper than a new tractor.
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