88 yota overheated on me blew head gasket

My 88 yota overheated on me cause i dont have a temp guage that works and did'nt know it was getting hot When i trun the motor the compression gose into the radiator cause you can here it bubbleing so that means it needs a new head gasket and maybe another head but do u guys think it needs another motor? cause its reading 60 psi on the comp test but thats also with the comp excapeing through the water jackets so i dont think the pistion or rings where trash so should i just replace the head and gasket or get a hole nother motor cause i found a complete motor for $400

 

Is it a 3 liter, or a 22r?