Boys, let's stay on point here. Liked the racing story, and totally appreciate it! Love shoving it up somebody's a#$ when you know your better. But our poor Brethren has a f$%*% motor, is out $3500 right now and trying to figure out what to do.
Depending on your financial situation, you have to decide whether to stay with this rig and see it thru till completion. I totally agree with the suggestion of making 1 good engine out of the 2. Comes down to whether you do it or pay a shop. I did the exact same thing with a 4.4 that had piston slap. Currently going 5K miles on the "frankenstein" motor and all is good. And it looks like OP hasn't commented back yet. I hope he does so all of this great advice isn't lost.

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Dave S.
Northeast
2003 4.6is
2005 E53 4.4
2003 E39 Msport(a REAL ONE!)
1959 Fiat 600