>i wont be doing it myself so how much am i looking to pay if it done by a mechanic?
I guess that all depends on what the mechanic charges per hour and what his markup is on the parts to do the job. If I were going to rebuild one myself with that mileage, I'd probably have the block bored out to the next oversize piston, then buy all new bearings, new pistons /rings and the gasket set. I'd count around $900 US or so with the machine work plus the labor to assemble it. That's just an estimation since some machine shops seem to do the work a bit cheaper than others.
Has the head ever been rebuilt? I'd say it's due unless you just want to run it "as is". You can have yours rebuilt or find a good used one for less... figure around $200-$600 depending on which strategy you're going for. Add in some extra cash for head studs if you're planning on running high boost.
Next... how's the turbo? Any play in the turbo shaft? You might have someone check it out and have the bearings replaced / shaft balanced. Seems like I spend around $350 minimum every time I have that done.
What else? If you're shooting for big power, you should probably plan on a good clutch setup / disk at the same time. Add around $125 for a light flywheel and another some more money for a new pressure plate and a good quality disk.
While everything's apart, I'd definitely also have your injectors rebuilt / nozzles replaced. I'd say plan around $30-40 each to do that. How's the pump? Any leaks or anything?
Now... if you're paying a mechanic to do all that, you'll probably really have to get a good idea of what he'll charge up front or how many hours it'll take. The prices above were just for the parts / services, not assembly or installation.
also what upgrades should i do for more power
i'm not looking for crazy horsepower! looking to get 150 to 170
or is that too much to ask for.
The sky and your wallet are pretty much your limits there. You could do some real basic pump tweaks, add an intercooler and a good exhaust / downpipe setup and end up with over 100hp and a lot of torque. Mine's around there now and it's a lot of fun to drive and still gets good mileage.
If you really want more power (who doesn't?) you could send your pump off to Giles or someone else to have it modified ($8-900 US) and then start messing around with fueling, special cams (PP), more agressive turbos and manifolds / headers. Unfortunately, this type of project adds up quickly.
Don't want to discourage you, but building a relatively high-power TD can be a somewhat expensive prospect.
Hope that helps...