ntsqd said:
I always ask for a tight tolerance balance job on any engine. Regardless of the cam the engine will run smoother. On a 2.4 liter 4 cylinder that's more important than usual.
If you have extra money in the budget (hah!), spend it on the cylinder head. That is where the power & mileage are locked up.
Another thing I think helps, particularly an inline, is a mains line bore. When I rebuilt my 22R last winter, the line bore would have only added about $75 to the quote. You can have a full bottom end done on a 22R for about $1000~$1500, depending on how much you want. I got a quote for $1500 to have the block cleaned (tanked, deck facing, cylinder hone and main bore), the crank and rods machined, new pistons (Keith Black), rings (Wiseco), bearings, painted, balance and blueprint. I ended up finding a brand new factory Toyota short block and went that way, though.
The full head work on a 22R will be about $400, give or take. I spent $600 total with a new casting, but if you start with a used head it would be about $200~$250 less. Mine has mild porting (really more of an aggressive gasket match and edges and curves smoothing), oversized valves and the bowls are cleaned up, about 8cc increase in combustion chamber size. I'm running an Engnbldr 261 cam like Grim. I ended up using stock springs and rockers.