Thats great news, awesome news:2_thumbs_up_-_anima. A honest mechanic is like trying to find a mint old turn key wagon...rare as hens teeth, I'm real happy for you!
Engine rebuild There are lots of hacks out there who claim to be mechanics. If you had low compression on a cylinder - that is worrisome and usually a sign of leaking valves (yeah, probably burned) or badly worn/broken piston rings. When there is no compression, it could even be a piston with a burned hole in it - usually the result of an engine being severely over heated, or operated on low octane fuel when the engine requires high octane. Anyway, you'd be wise to get the factory rebuild engine - a long block or complete engine will be cheaper and much better in the long run compared to some shop rebuild.
There are a lot of people that will disagree with you on this advise, and I am one of them. I have seen some great engine rebuilding come out of small independent shops, and the cost is less than a long block done at a large engine re-builder. This isn't to say that companies such as Jasper don't do a great job rebuilding engines, but they don't have a lock on the market such that a independent shop can't do as good or better of a job at a better price. Price a Jasper rebuilt engine, including the R & R and you might be in for some sticker shock...
I don't dispute that there are shops that can do a competent rebuild, but any mechanic who says he adjusted the CR is not one of them.
CR????????? I am not familiar with these initials in reference to any mechanical part on an engine. As for the rest of your comment, we were already past the point of criticism of the previous mechanic, and onto the topic of engine rebuilding. In my response, I quoted the persons comments specifically, to make sure that everyone would know what my comments were addressing.
I agree that finding a mechanic that is knowledgeable and will not take you to the cleaners is hard. IF you can pull the engine, and move some parts, then I would order a crate motor from Summit or Jasper. They come fully assembled and have a warranty. Since you have a small block Chevy, this is dirt cheap.!!! Here is an example. http://www.summitracing.com/parts/NAL-19244450/ Already broken in. All you do is start it. But again, you have to find someone to do the work that you trust. A valve job is not that bad. I removed the heads from the 350 Pontiac I am building. Dropped them off at the machinist, and for 350$ they cam back perfect. I picked them up this morning to be honest... HTH, Dave