After a partial teardown of my engine, it will need a new cylinder head and block at a minimum. the #4 piston completely disintegrated, and the connecting rod and pin banged a hole through the cylinder into the water jacket. Never seen one fail like this. The valves for that cylinder all appear intact and not bent from forced contact with the piston, but the flying shrapnel from the piston just pounded the head, so it's not worth repairing. I found a broken crank to balance shaft chain tensioner, and the chain was pretty floppy, but did not appear to have skipped a tooth. Both bank 1 and 2 chains and tensioners were intact, and it did not appear that a valve timing issue initiated the engine failure. I'm very comfortable rebuilding engines, and rebuild parts are cheap for the 3.7L, but this engine is just too destroyed; I'm not even sure it would credit as a core.
I'm in the same boat as you, Bill F, in that I would like to flip this car with a new engine, but I'd lose money on it with a $4,200 Jasper Engine. I bought the Jeep for $500, thinking I would use it's rebuilt 45RFE transmission in my 2005 Liberty, but that car uses the 42RLE transmission, and swapping it would require all kinds of electronics and wiring changes, so in that case I just rebuilt the original 42RLE, and now I have to decide what to do with the 2002. The rest of this car is in great shape (new tires, great interior and exterior, 4 wheel drive; everything works, plus it has new starter, alternator, AC system, etc.), but it's a high mile, 20-year-old car, so there's a limit to what anyone will pay. I think with a new motor and transmission, this car would only bring $4,500 at most, so you're limited on what can be spent on it. The only thing that could change that is continued COVID craziness keeping new and used car prices grossly overvalued. In that scenario, who knows what someone might pay, but stuff is going to break on a 20-year-old car, and people know that. New motor and trans just means you won't have a big $ repair, but U joints, differentials, wheel bearings, transfer cases, etc. could all go at any time, so I don't think this car could ever bring $6,500, which would be my minimum to cover parts and labor for a Jasper engine.