After a little research.All the rotating parts would be replaced and the only parts (not being replaced) that I can think of would be affected by oil, would be the heads (and head parts) and those would be cleaned before reassembly. Basically you'd have a brand new engine with used heads (however many miles were on them).
IMO it will really come down to the root cause and the potential amount of metal/debris in the oil. Blackstone only gives me PPM. This was the reasoning for the Tundra long block replacement. A short block replacement is an option, but reusing old parts (like heads and cams) could potentially introduce the debris back into the engine, negating the benefit of the repair. A fully assembled long block replacement engine ensures all components are new and free from debris.