I currently have a 454 in my Blazer, but it's very weak and mileage has gone to the drain.
So I bought another 454 to start bulding without parking my blazer for months. My plan was to reuse all possible bottom end components. Since this engine was supposed to have very low miles. Yeah right!
I made the inspection disassembly last weekend. This engine probably did have low miles, since the bores were worn only 0.003" from stock. But those miles were definitely fun. 6 out 8 compression rings were broken and scratched the cylinder wall. All main bearings except the large one were spun

Imagine if I had listened to the guy that sold it to me. He said I could practically run it as it was.
This was a Corvette engine. It has a steel crank and the famous 353049 "049" heads. These are supposed to be the best 454 heads GM made. If you can find a set, you're all set. I've seen some on ebay. That will save you some big bucks. They are supposed to support up to 500hp.
I will be ordering the following from Summit as soon as I have the money:
-KB Silvolite 203 pistons
-SLP File to fit Plasma Moly rings (tempted by Total Seal rings, though)
-Federal Mogul main, rod and cam bearings
-Melling Oil Pump and pickup
-Gasket set
-Roller Rocker Arms
-Manley 2.19 / 1.88 valves
-Main studs
-Rod Bolts
My total is $1,026 + S&H
I already have:
-Comp Cams Xtreme 4x4 210/218 0.505 lift cam kit Part #CCA-K11-231-3 for $329.95
-Performer polished manifold
-Edelbrock Quadrajet carb
-Chrome valve covers
According to desktop dyno, I will be getting about 550 ft/lbs and 375hp with this setup.
Hope this helps.