You have to pull the heads to pull the pistons and you must replace the head gaskets. You could just replace one head gasket to pull the bad rod, but you won't save much and you won't be able to break the glaze or clean the lands unless you pull the pistons.
Here are some cost estimates for you from http://www.rockauto.com
Head gaskets are $16/ea, the head bolt set is $22, and figure $12 to ship it, so for that part, you can git'r done for less than $70. If you didn't use a lot of rtv silicone to install them and you are careful disassembling, you should be able to re-use the LIM gaskets. If the block is stripped my local shop will charge about $35 to install new cam bearings and about $15-$20 to install a new balance shaft bushing. The bushing is about $6, and the cam bearings are $14. Now you are up to $145. Have them check the rod that spun and true it or replace it if need be. That should not be more than $50. A crank kit is $155, and figure another $35 for shipping, so that'* about $385. $50 to tank clean the block and another $65 of stuff you forgot comes to $500.
You break the glaze on the cylinder walls to produce a 60 degree cross-hatch (light scratching). These scratches hold a little bit of oil and provide lubrication for the rings to minimize wear on both the walls and the rings. Check the end gap on the rings - you will probably not need to replace them. Clean the lands so the rings can move freely.