Here is a picture of my engine upside down on my eng stand. The rear main cap is still on. The seal is under main and embedded in block under the crank. If I had a bad real seal and the engine had not been rebuilt for many years I would have pulled the engine for a rebuild.
All the mains and crank have to come out to replace the rear crank seal. That means disconnecting all the piston rod caps. Mixup the caps and you get piston rod slap (out of round rods). BEEN THERE, DONE IT.
I would do a stock rebuild of the existing engine.
Engine Test Stand Playlist: https://www.youtube.com/playlist?list=PLwoxyUwptUcdqEb-o2ArqyiUaHW0G_C88 restoring my 1968 Firebird 400 HO convertible (Firedawg) 1965 Pontiac Catalina Safari Wagon 389 TriPower (Catwagon) 1999 JD AWS LX Lawn tractor 17hp (my daily driver) 2006 Sequoia 2017 Murano (wife's car) 202? Electric car 203? 68 Firebird /w electric engine 2007 Bayliner 175 runabout /w 3.0L Mercuiser__________________________________________________________