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Bummer! I had a 74 T2 Westfalia from 1980 to 1988. It was my daily driver and drove the hell out of it all over the Pacific coast, through the Sierra's & Cascades, and the desserts. Scariest to drive, yet the most fun car I've ever had to this day. Back in the 80's in Los Angeles, you could get a rebuilt engine installed for about $600-700. Wish you could still get away with that. Enjoy!
I would check with the experts on the samba, not sure about replacing the valve guides, but seems doable..plus you may get away with just Dremel the heads smooth for cylinders 3 and 4, replace the pistons and rings and do a valve job. Basically a top end rebuild. Try to do it yourself first.