my GM Vortec 350 was like $2300 to my door. i love it.
that said, you need to do a couple things here before pulling the trigger on a motor swap. the absolute first would be a leakdown test. it will tell you what is really up in the engine, where a compression test will only tell you if you have low peak compression. the leakdown test will tell you exactly how much compression you're losing, and where you're losing it.
if everything checks out there, go for a full tuneup, and if you can get away with it, de-smog the engine. that 82-86 emissions stuff is notorious for causing all kinds of drivability problems. to properly de-smog it, you're going to need an HEI distributor with vacuum advance, and a QJet carb without a dual capacity accelerator pump. basically, treat it like its a 79 or older truck.
that said, don't assume that because its got 60K on the clock its good. i have a 103k 350 sitting in my 87 right now, and an 86 305 with 113K on the clock. the 86 was a well maintained truck, used by an old man here in town to pull his boat for almost 20 years. i got the maintnance records with the truck, and it was so clean that when i pulled the bedliner out of the bed the only damage was where the liner rubbed on the ribs in the bed floor... and written on the side of the bedliner were his last name, 11/XX/85, and the name of a local place who installed bedliners... the bedliner had apparently been there since day 1. the 87 on the other hand, was driven daily by a friend's grandfather, who bought the truck brand new in late 86. he used it to drive to his lumberyard from home. 2 miles one way, and shut down. that stupid thing smokes so bad it almost burns your eyes at idle. works great for what i use it for, its a loose but good running engine, which means it won't change how its running when it gets hot. both of them are used as derby truck engines. only one of them would i even consider putting in a street driven truck, and that's the higher milage 305.