Holy crap it runs... sorta...
Actually, it runs pretty well above 4k rpm. With the "aggressive" valve job performed by Erik (wait, let me clarify that neither of us had a CLUE what we were doing... when I say aggressive, I really mean Erik didn't know when to quit removing material), the car basically falls on it's face under 4k. I guess it's a good thing we run between 4k and 7k at race speeds.
We found 2 coolant leaks and diagnosed the wrong size o-rings... it turns out that removing the water pump takes about 10 minutes when you have giant holes in the side of your car.
Today, the car developed a pretty severe oil leak... it turns out our oil cooler was smacked when the motor was installed, so we have to go on a hunt to find a replacement. Our old one was a tranny cooler from an 87 Saab 9000 (anyone have one laying around?).
I hope no-one asks how we plan on "breaking in the motor"... because it might involve driving it up and down the road at full throttle. Break-in shmak-in