In nh, you can get a running '94 for 1500. Sure, it won't be prestine, but it would run.. may need some minor work or have some rust spots. A perfect '94 would probably be about 3500. So add in the cost of a new engine + the buying price and judge off that I guess. If the rest of the truck is nice, and you like projects, I'd do it even if it saves you only a couple hundred dollars... but thats me because I like projects. If the trucks not nice, then I'd look for a running not nice one for the same price.

-Scerb