1990 740Ti 283,000 miles, rebuilt engine at 160,000 miles

After a nagging feeling and some not quite definitive symptoms, I am now convinced I have a blown head gasket.

High consumption of coolant and apparent "boiling" of coolant were two things I thought were happening.

I filled the car and eliminated all air bubbles this afternoon, allowed to cool down, and topped up to just above min level.
On re-start, I can smell exhaust in my coolant bottle, the hoses bulge with pressure after only 20 seconds of running, and just this afternoon for the first time, I am seeing very distinct white exhaust and water dripping from the exhaust - the engine is completely warm with coolant at 170F and it is a warm day today.

I'm very glad I've been riding the bus and that I'm all set for a lack of car. I think I'm going to get my motorcycle license before I fix this. I already have the bike.

This engine has had its block cracked before, and may have problems with its oil delivery system (low oil pressure). What are votes for me finding a good used (or $rebuilt$) engine vs. doing head gasket repair on this one, plus replacing/checking oil pump? Engine is NOT the original, no idea which type ( e.g. K-type), but the serial is intact. May be a B230FT or a B230F+T conversion. The A/C needs to be refilled too.

Yeesh. This had been a very good day up until now.

-Will
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1990 740 Turbo, on its way to stock specs, maybe beyond