PeterT,
You are correct the major saving is in the amount of time required to port and modifiy the head probably not necessary to do anything to get 250 bhp also the head comes with solid followers if your new cams are ground to the same base circle as the OE there is no need for any reshimming this saves a lot of time. The valve guides are recessed below the port line and are of good quality so they can be retained and do not need removing to gain access to work on the ports.
The 280 engine that I built had a fair amount of work done on the inlet ports and only a tidy up on the exhaust ports and combustion chambers. The stock valves were retained as they are of good quality and have the benifit of 5.5mm stems . The valve springs ,retainers,cams sprockets were replaced. The bottom end had the crank pulley keyway mod, balance of the crank checked, Arrow rods, omega forged pistons,titan steel lightweight flywheel,pace dry sump system.
I don`t want to get into quoting prices as this depends on what bits you fit and the parts supply is in state of flux with different bits becoming available each week and different ways of doing things based on past experience. My biggest problem was trying to get the Pace dry sump System to both fit the engine and plumb it into the car. Altrenatives will shortly be available.
Imo this is a very good engine and I can see no reason why it will not prove to be reliable. My only concerne is its slightly heavier then the K but we must remember that we comparing a 1.8 with a 2.3.
Rob