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N54: Novice rebuilder. 54k miles N54 crazy to rebuild now?

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Hi all,
First disclaimer, I'm a very novice engine rebuilder having build a couple of small Honda K20s and a M54 a few years back. To my knowledge all 3 engines are still running well with their current owners :D :D.

I've found myself with a complete 135i with 110k on it and picked up a bargain N54 motor + turbos for a price I couldn't resist (it seems healthy and compression is good).

Would I be crazy at this point to rebuild the 54k motor with so 'few' miles with a view to swapping it into my 135i? I would want to do the rebuild myself (sending parts out for machining to an experienced local shop)?

I think it might be a nice project and having a 0 miles fresh motor ready to go for when the 110k motor starts to misbehave seems like a useful thing?

Thoughts.

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