Here is what I suggest. Keep on tearing it all down. All the way to bare blocks. Saltwater, can wreak havoc on the cylinder heads, and blocks.
Once you get them down to the bare blocks, you'll need to take them to a machine shop. Have the blocks tanked, magnufluxed, and sonic tested. When you deal with salt water, the blocks rust from the inside out. What happens here, is that your cylinder walls can get thin. A quality sonic test can mean a block thats good, or a block thats scrap.
Same goes for the heads. You will want them cleaned, and magged for cracks. You need to be careful with heads. The heads you have, while they are a good performing head, can cost a lot of money to redo. If they need valves, seats, welding, etc, the machine shop ticket can add up quickly. Its not uncommon to have 1,000 or more into fully redoing a set of these older heads. Of course alot depends on your budget, and HP goals. If your on a budget, which I believe you are, it may be money well spent to get two sets of Dart 308 Iron Eagle heads. Actually, the Summit Brand 308 Iron head, is made by Dart, and even less money. These heads will outperform the GM Rect ports, and brand new castings in my opinion is always better than rebuilt old castings.
The blocks. What you have there, is somewhat basic, but a good quality setup. The Crankshaft is very good, and so are the Rods. With the Rods, you have two options. #1 is rebuilding the old rods. You'll probably have around 200 per set of rods, possibly a little more if you go with the ARP bolt option for them (which I would for the few extra bucks). Or, you can opt to go with a new set of H beam rods, scat, eagle, etc, which is a better stronger rod, for around 400 per set with the good ARP bolts. Usually you can ebay the stock rods for 75.00-100.00 a set, and in the end, you have brand new stronger rods for a couple extra Hundo.
Pistons are pretty cut and dry. You'll want a quality forged piston. Theres a couple things you need to watch for. If you plan to, or even think down the road, you may want to go with a roller cam with some high lift, you'll need to watch if you use a stock speed pro/GM replacement piston for those engines. Sometimes, piston to valve clearance can be a issue. Theres alot of options for pistons out there for what you have.
Going to a hydraulic roller cam is awesome for power, but pricey. The crane 134561 cam would work nicely, and has a really nice sound in a 454.
CRANE 134561 BBC CAMSHAFT HYD; CCH-296-2 $144.79 BUY ONLINE My buddy runs them in his old scarab. Its a bit hotter than the stock cam. With flat tappets, I'd use the Crower 'cam saver' lifters. They have a additional oiling groove, that gives the cam a bit more oil. Helps to prevent wear and lobes going flat.
Of course theres a lots of little things along the way, But I'd say first order of business is tear them down, and get the blocks and heads to a machine shop you trust, and get a clean bill of health on them. Who knows, all might be good, and maybe you'll be able to just polish crank, hone the cylinders, new rings, and start putting them back together. Once you verify your heads and blocks are solid and useable, we can move forward with Parts selection, etc.