There are a dozen ways to spend $800 two or three times over, but I know what your saying...
There may be varying opinions on this, and end cash flow depends on the actual /usable shape of the motor "as is" and what requires replacement machine work and what can just be "freshened up"..
I'd concentrate the cash on valve train, springs, retainers, valve job, cam and carb...
Gotta breath...
But you gotta have compression and be able to suck air/fuel in and out too... so I'm counting on piston, rod, and cylinder being in "decent" shape, honing, porting and new rings...
All this stuff needs to be lubed to stay together modded or not so some work on the oiling system is in order, generally opening ports, cleaning, seals and crank breathing...
That'll suck your $800 up pretty quick depending on how much you do yourself and how much is sent out or "has" to be replaced...
Next piece after the above would be a Billet wheel...
And then (after you win the lottery) the secondary list I gave you above....