Yes, I would day it's blown <img src="/forums/images/graemlins/zombie.gif" alt="" /> The block is toast so there is no fixing it.

If you don't have the ability to remove and replace the engine yourself it would be cheaper just to buy another truck.
Not that I want to see Montero's in the junk yard but unless you can wrench dumping money into a 18 year old truck will drain your wallet fast.

You could could get a engine out of Rising Sun. IMO your way better off with a tested used engine than remanufacutered craptastic one. Your looking at a 2 grand fix on a truck that's not worth 2 grand. <img src="/forums/images/graemlins/frown.gif" alt="" />