I had my 1330 built for:
Rebore £120
Crank didn't need grinding (would have cost £120 I think)
New cam (Minispares evo001 £70)
Followers £30
Bearings £70
Pistons and rings £150
Thrust washers £30
Cam lube £10
Oil & water pumps £60
Gaskets £30
Machine shop to build short engine £150
Gearbox overhaul £300
New clutch kit £80
Labour to build up and time cam £200
New core plugs, cam bearings and fitting £120 ish
Total £1420 ish for a cracking engine.
If you're sensible you don't have to spend a fortune.
No mention of head, which can quite easily soak up 250-500
Correct. I had the head already. I have to say that I'm struggling to see where £2-£3k for an average engine goes.
There's not far off £2k if you add up your costs, plus the cost of a head rebuild really.
I don't think GW is that far out personally. You've listed pistons and rings as £150, but that can easily be £200-£250 (close to £200 for a set of 4 21253s), you've listed a cam as £70, but that's cheap to me, a cam can easily be £150-200 for a semi-decent one, Vernier duplex setup is another £100 if you go that way, it does add up and by the time you've got what is considered fairly average engine by today's standards, £2-3k really is an accurate estimate.
I do agree that it doesn't HAVE to be £2-3000. But when you have to spend things like £20-30 for a new primary gear thrust washer to set the clearance, idler gear thrust washers for another £15-20 each to set the float there, rebush the primary gear, that's another £30 and it does add up very quickly. The 1330 I'm doing will easily be £3-4k when it's finished and it won't be a super-dooper engine when it's finished.