After pulling my 352 Tuesday, and receiving some encouragement from Mr. Dare (~simplyconnected), I kept going with the disassembly and pulled the rocker shafts, intake and heads. The cylinders are worn smooth, so would need to be honed, but what else can be seen in these photos and what else should I be looking for?
Out of curiosity I searched craigslist today and found this listing for a 390 block about 10 miles from my home.
Contacted the seller and this is the additional info he provided:
Engine was used in a '63 T-bird from 1983 to 2005 then pulled out and placed in storage as original engine was rebuilt to put back in car. I have not pulled heads to check cylinder bore condition but would at least assume a good honing is called for - engine was rebuilt in 1983 and had less than 30,000 miles put on it since then - did not smoke or burn oil. As ad says, will need crank ground and new main/rod bearings.
Or there is a 390 advertised as "professionally rebuilt" a few hours away for $2,300. I have asked for more info on that one.