What are the chances of the head/valves being ok in this situation? Years ago I had a 1992 W140 300SD and the timing chain broke on it. This caused quite a good bit of damage to the head, valves, guides, lifters etc. Although, I must say, that the 2.3 16V 190s are one of the most admirable packages and destined to be a classic if not one already. If this car is in a good shape, do it a favor and bring it back to life.
Good Luck,
Asif.