If the head gasket is blown it's a simple enough job, not justifying tossing the engine imo..
But the engine has been to the moon, it is probably quite worn by now, if it is basically sound rebuilding it might be a good option.
Does it burn oil, lose coolant, and does the oil pressure light go out right away when you start from cold?. If it doesn't lose fluids and the oil light goes out promptly it's good for a few more miles yet, but the egr valve could be plugged.
Does it smoke from cold and stop after the engine has warmed up?, if it does that is condensation getting boiled out of the exhaust, Quite normal anywhere it's cold in the mornings.
If your motor has pulled the Cadillac in your picture for all those miles it's done very well!.
Roger.