G'day Mac
that black dog is a bitch to ride, isn't it. Know it and have a bit of trouble beating the bas***d myself.
I'm on a 3.0CRD after a 4.2TD and am BLOODY unhappy the missus pushed me into it. Was just run in at 400+K and they're gold I reckon.
What vintage is yours. How many kliks has it done? Do you know precisely what is cactus? Is the body, suspension etc. etc. etc. still in good running/reparable nick? With a new/recon. motor would you have a keeper,(what I reckon is God's gift to off road) or is the whole thing a rusted out heap of shite?
I have been told that reconditioning a diesel is expensive but whether you should go down that track rests on dollar per result as well as what you would really like for wheels. The good TD4.2's are getting hard to find and acknowledging that the perishables, like brake/clutch cylinders, brake pads/rotors, all rubbers and plastics and everything else that simply wears out will need attention, I'd be tempted to fight to keep a good one.
Dunno if that helps.
Guess it simply boils down to pain versus gain.
All the best in your quest,
Col.