Bare Engine Advice

I'm pondering a 1200 engine that is basically 'condition unknown', it is the bare block (no add-on's - carby, gen, etc), as I have a bug with a siezed 1200 - has all of these bits still in it.

The word I have is that it has 'been turned over and has some compression', I have asked how this was tested, etc, and any idea of the compression....

What should I be looking for? It is pretty cheap (freight will probably cost more), I want to get it running in my 60 later in the year. With a bare block, what would I be looking at to recondition it? Alternatives?

Any advice?

i picked up a perfect runner, 36hp for $200, look around, they come up, save alot of effort (im very lasy) ... have not done a compression test but it seems to go well for what it is.. how cheap is it? that one for $100?..