Can this engine be repaired?

[hardtimes]

Well, so much for 'well restored engine', eh !
Did you ever get a chance to talk to seller and happen to ask , about who did the engine work on this engine ?
IMO, it looks like someone (amateur ?) did take engine apart. The grooves may have been worse and honed a bit. The hone job , alone, tells a big story here...i.e.-not what a hone job is supposed to be and/or look like !
So, the 'hone' job in indicative of a guy who dismantled/maybe did some cleaning/adjusting to best of his ability, and reassembled.

Here is where I differ, with the others who say run it. If this is what / how was done....what else
Since it is partially disassembled already, out of the car and somewhat clean...take the pan and valve cover off and check further before even thinking of running. Just one opinion, but once this is in the car it will be a whole lot of work to undo 'stuff', that may be wrong, then.
Now.....if all else is to your liking, I'd run it with these 'grooves', as I done that myself in the past and like said, it ran in fine