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As you can see from the rest of this thread, there are a lot of opinions, but I'll start. I would consider them run out. The top overhaul was just a way to get some more life out of engines. If I read your post correctly, the engines on this airplane are currently nearly 40 years old, and have 1670 hours on them (TBO is 1400 I think). These engines are run out, and if you run them longer, you risk catastrophic failure, which, besides making a flight considerably more interesting and potentially life threatening, also increases your cost, even for a reman. So in my view, there are no safe hours left.
Previously in this thread, I said I thought you could replace two normally aspirated. My information is out of date. A reman IO-360-C from Air Power (the $300 over invoice folks) is just under $25K today. I would add three to five thousand to that for labor and accessory overhaul, including the prop. So I think you $60K figure is accurate, and my figure from previously in this thread is way wrong. Since you have old cranks, a reman is probably the only economical way to go. If you the engine was newer, you could of course get a somewhat cheaper overhaul, although I am a "reman" guy, and don't have any experience with other overhaul sources.
My opinion only, you should of course make your own decision based on all the information you collect and your own judgement.
Kevin
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