If you need to rebuild either motor, why waste your time on the non turbo motor? It takes the same amount of work typically to rebuild either one. This is assuming the turbo specific parts (turbo, exhaust manifold, etc) are all still good; just a blown HG.
With that in mind, take the motor apart down to a bare block and bring it to a good machine shop to check the block for cracks, warpage, and other issues. If everything checks out, just hone it out and reuse the pistons and rods with some new bearings and rings. Do the same with the cylinder head, just put in new valve seals. If you plan to use a metal HG (I recommend Cosworth or Apexi), make sure you take it to machine shop that can surface the head AND block with a near mirror finish. If you have to bore out the block, try to use a torque plate for better ring seal. Not using a TQ plate will result in bore distortion up to .0015" (which is a lot). While the motor will still run, it will have more blow-by and less power. Also, if a bore is needed, try to only go to 86.5mm, not 87mm. The more you bore the cylinder walls, the thinner they become and less material you have to work with in the future if the scenario ever arises.
Another good thing is to check the oil pump clearances. If it's bad or you aren't comfortable with checking it yourself, replace it with a new one.
Hope that helps.