Could do CharlesY, then it would look brand new and feel brand new. The cylinder block isn't actually all that faded to be honest so might leave it, but a lick of paint would really finish the job off wouldn't it.
Would you go as far as saying that I am reconditioning my engine?
Yes.
What you are working on is a SHORT ENGINE, meaning everything below the cylinder head gasket.
If you fit new rings, glaze-bust the bores, fit new main and big-end shells, and new seals and gaskets all round, the engine will be more or less like new. There's not much left, is there?
Take advice on checking the camshaft followers (sometimes callet tappets) which in Landies might be worth looking at. As I say, ask here for advice on that, but if they were OK before, probably leave well alone.
I think you will enjoy painting the engine a really bright red colour. It will look GREAT - a million dollars - and you can say you did it yourself after rebuilding it!
I will never forget doing this same job for the first time, to my Citroen Light Fifteen, in 1964! But that's another story, and Slob will give me a row for a too long reply as it is !
CharlesY