Well Jason has run up the old engine on the dyno and I'm pleasantly surprised at the results. Even after 13 years of neglect it still has 157 ftlb of torque but he cut the run as oil started to spray out from the breather on the block (as there was no pipe connected) but it still showed 194bhp.
So those figures are not too bad after all this time, but Jason did say the compression was a bit low, which makes the figures even better. Now it's just a case of waiting until all the measurements are taken and then work can start. Can't wait to see what the next run on the dyno will produce after all the work has been done.