From someone who has been there askign the same question:
If you don't know EXACTLY what you're doing and you go the $200 route, expect to do it over very soon. If nothing else you will constantly be watching the temp gauge, coolant level, and color of exhaust. Chances are your bottom end could very badly could use a rebuild anyway. It's a choice and that choice depends on alot of things, including your financial situation, what you want out of the car, your mechanic abilities, things like that. Do it right, do it once, and don't worry about it. Or do it for $200 bucks and gamble. You can guess which way i went, and yeah my car was down for over a year while i saved up and rebuilt it slowly, but do I regret anything now?...Not at all.