1991 Toyota Cressida Grande

[SVD115]

Hi all, my name is Jason, only just recently bought my self a Toyota after owning about 4 Nissan's and decided it was time for some cheap good luxury.

All has been well and good for the first few days of owning my Cressida, but unfortunately yesterday on the freeway blew the head gasket on it :( the motor has done about 275k km's and it looks completely stuffed, no water in the radiator anymore and the oil looks like the foam i would tend to find on a coffee top! if it was a Nissan motor i would be right on it changing the gasket and freshening the motor up, but seeing as though this is my first Toyota and Toyota motor, im not sure i should

My questions are these:

1: I've heard these motors (once the head gasket goes) are no good anymore and not worth repairing and also due to my high km's should i repair it?

2: would it be better and cheaper in the long run to just put in a good low km second hand motor?

3: how much would a good second hand 7M-GE be worth and where would i get one in Melbourne south eastern suburbs?

4: is it worth fixing the car seeing as though rego is due in November?

so thats it, just trying to get the best opinion on what i should do with it, its a beautiful car with everything i could want, the gearbox is smooth and it ran beautifully before and I'd hate to junk it but dont wanna waste my (very little) cash on it if im just gonna keep on having problems now.

Thanks so much Jason.D.