It sounds like a total rebuild to me, from what you've posted. The ls3 heads with custom cam will absolutely make that kind of power. This is basically updating the lq4 to a non VVT version of a ly6, which is a 6.0 made from 2007 to 2010. The ly6 has the ls3 head casting, with different valves.
I'd ask him if you can contact the engine builder, or machine shop, that did the rebuild. Ask them their history rebuilding LS engines. How long, how many, etc.
Was the assembly balanced? Do they hone with torque plates?
If you get solid answers from the builder, I wouldn't be hesitant in the least bit to buy this engine, if the price is right. What's it worth? Totally depends on a lot of different variables. What's the asking price, if you don't mind?
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