It's a fine starting point for a budget build. How long it will live is dependent on the horsepower levels, quality of the machine work and assembly of the engine. 500HP and under, a good machinist and perfect assembly practices should bring a few years of service from the engine.
Better parts than I had 25 years ago when I started building my first race engine. GM crank, Pink rods and heavy TRW slugs that pulled a 3800lb car with a 4 speed to 11.20's all day long.