M guess is that the oil leaked out because of the leak, lol. It cut off from a low oil pressure switch. Added oil, switch let the engine fire. Oil added too late and spun a rod bearing.
There are a million opinions about the chevy 2.8. Some good, some bad. IMHO, you would be pissing away $ unless you know where you can get a good, used 60 deg v6 for cheap.
