yes and no, I just had the same opportunity and I took it, the sled was a 2005 900 166 w/can and a few other small things, but had a blown motor aswell, and it was about the same price. Anyways, sit down and write out what you would want to do to make it run right. Obviously start with only the things that are the most important and consider your budget.
My list would consist of...
-new crank and possibly pistons, keep in mind the cases may be effed up too which could up the price a bit(INDY SPECIALTIES)
-Fatboysfrenchy throttle/oil cable(FAT BOY FRENCHY ON SNOWEST)
-clutch balancing(1200PSI ON SNOWEST)
-vents, side panels and hood(XXXMODRODS ON SNOWEST)
-Timbersled intake
-CompFusion Motor Mounts(COMPFUSION ON SNOWEST)
That list, in my opinion, would be the absolute basics and most important. Of course you could go with a Polaris updated crank, but Indy Specialties is worth every penny. The FBF cable is a must on these sleds. Vents are also very important but there are many vendors that sell very nice products. Timbersled is my favorite intake because it actually has a filter, you know nothing is going to go flying into your new motor. Compfusion mount to keep that ol 900 from moving in the bulkhead.
Above and beyond that you will love these sleds, they make awesome power, and set up right they flat out run!
GOOD LUCK!
SKI
P.S. come over to the 900 subforum in the Polaris section, you wont find a better base of people willing to help out or a better base of info, start by reading some of the sticky links on the top of the 900 sub forum, there is a ton of info.