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I hope you got a good deal on it....
unfortunately (or fortunately, depending on perspective!), I think the '74-'77 911 engine is deemed by most P guys to be the worst air cooled 911 engine built. It can be corrected of course (search), but it's not cheap.
Search the classifieds here for past sales on similar engines, and e-bay as well.
A I can't imagine more than $1k for the engine alone, but if it was correctly rebuilt (and a bunch were) it should be worth quite a bit more.
I keep checking CL for a really cheap non-runner of this era to pop up for an early long hood conversion, but they're becoming uncommon in ratty condition...
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