I think most people here will agree when I say that I could give two shits about another 57 chevy with a 350. Don't do it.

What about a different, known healthy 235? Or if you want to upgrade: 250? 292? Vortec 4.2?

In my experience, a rebuild is rarely a better deal than replacing with a takeout. $3000 will buy you a lot of motor - and you don't have to worry about that clank again.

Also, it's never cheaper than you expect \:\)