Rebuild cost

[BillGent]

First of all, I'm new to this board. Second of all I know NUTTIN about rebuilding an engine so I need to have it done. I have a 81 Chevy C-10 Silverado with a 305 5.0, 4 barrel carb with 147,000 miles on it. I am the second owner, the first was by brothers next door neighbor. I bought it for $700 bucks as an emergency driver after my 97 Chrysler burned to the ground then went to hades from where she was from. I have put about $1500 in it to rebuild the transmission, A/C and carburator. I have been asked several times why I put this much money into it and I only have one answer...Love is blind. I learned to drive in my Dads 73 GMC 1/2 ton. The truck is Butt-Ugly but I felt like 'Hoss' was pleading with me to restore him to his greatness. I feel like if I do this, he will last another 22 years or more. I always take good care of my autos. I started having some engine problems so I took it to a mechanic (whom I used to trust) who said I had low compression in two cylinders and a total rebuild would be $2900 bucks. Even in my vast cluelessness I knew that was ridiculous. I cant rebuild it myself even though I would love to. I just dont know how. My budget is limited but if I have this engine rebuilt all the major expense stuff will be dealt with. Now, my question. How much should I be expecting to spend for an installed long block rebuild? Thanks!