Originally Posted by Beemerguru
If it does look like that...unless you want/need the experience, don't even bother with the tear down except to get good parts. You've probably got metal bits in all the oil passages and pump. If oil pump gouged, block is gone. Rods are probably frozen on the crank, bearings seized, etc, MAYBE good lifters.
Take your new engine, put a set of new rings,,,maybe a timing chain - and ride. Use the old block for a door stop.
That's not the OP's engine.
And guessing by how long that engine must have run (on one cylinder) with pieces of broken off valve in there, nothing's seized at all.
If it had been shut down the moment it lost power and started making noise, it might even have been salvagable.