Don't even consider repairing heads that have already dropped a seat they do it because the aluminium has lost its temper (hardness) and although they can fit new seats, but because the aluminium is 'softer' than it needs to be they are not reliable this is why many machine shops don't want to do it.
New bare heads are not that expensive, unless the HO engine uses different castings than std 4.7L that is the route I would go. They are around $400 AUD each delivered for stock 4.7L heads.
Bottom end is nothing unusual and can easily be repaired.
Put a timing chain kit in when you do it too.
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