The thing many seem to miss on a severely overheated engine and one that was also very low on oil would be cylinder wall integrity and the possibility of broken piston rings.
Just because the cylinder walls may look fine, does not mean the piston rings may have expanded enough to close the gap, then they are likely to break in one or more locations. This is when you end up with questionable compression.
With as many of these cars around, I am sure you can find a reasonably good shape engine out of a wrecked car for a decent price.
It will save you loads of time waiting on the machine shop, may even be cheaper than a head job??
Sort the VANOS seal, oil filter housing gasket, CCV and all the typical problems when you swap the engine. Then you will be golden for quite a while.