here's my 2 cents and it worth exactly what you paid for it.
If it was me, I'd run it and see!!
Since it's out of the car, I'd do a couple of things before putting it back it.
Compression test as a couple of people have already suggested. If the compression looks good, pull the pan, and check the bearings, pull one main and one rod and see what they look like.
If they look good, replace the front seal and rear main seal , clean the oil pump screen, make sure the timing chain looks OK and then stick the pan back on with new gaskets.
Put it back in the car, and drive it!!