You could probably pick up another good condition 7MGE that has had the HG fixed properly before or you could buy a reco one from somewhere?
You'll get lots of people on here telling you to do an engine conversion and the most common thing people do is chuck in a 1JZ (2.5L Twin Turbo I6) but I couldn't give you a comparison of the cost of that vs a good condition 7MGE I'm afraid.
If you don't need / want power just get another 7MGE or get the HG fixed properly. If you want a fast sleeper than look into putting in a 1JZ.
/my two cents
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