You still have pretty good crosshatching and I don't see any significant ridge at the top of the bores. The piston crowns look good. I see a line on two of the bores that might indicate that the top ring is gummed up in the bore and not rotating like it should. If you pull the pistons and they aren't scuffed you can probably get away with honing the bores to break the glaze, cleaning up the ring lands, and putting a new set of rings in there. Break an old ring and use the factory cut end to clean the ring lands. Don't wire brush them. Ring land clearances and geometry are very tight and important to good ring seal. Get the major crud out with the old ring then soak them in diesel, kerosene, or white gas (Coleman lantern fuel) to get the rest of the carbon out. I like to add fuel injector cleaner to the mix but that's just me.
Probably still worthwhile to check the deck for flatness. A mechanics straightedge and a set of feeler gauges should work. You said you have access to your schools auto shop so I assume you have a decent selection of engine tools.
I would get the heads magnafluxed and resurfaced. They probably took the brunt of the damage and a machine shop can tell you if there are any cracks or warping that won't clean up. I'd have them check for valve wear too and decide if it's worth putting money in your current heads or getting junkyard heads.
Replace the main and rod bearings. Use plastigauge to check bearing clearances. You can get 0.001" undersized bearings if you just need to get them a little tighter but it looks like Rockauto only wants to sell full sets. You can mix and match them and standard bearings to get it perfect, a half-thousandth step won't affect anything. If your crank is worn beyond that or if it has grooves that catch a fingernail you'll need to get the crank turned too. Same goes for rod bearings. If any of the rod bearings are seriously worn, hammered, deformed, or don't check out with plastigauge you'll need to get them resized as well.
I bet your school has a die grinder. It's worth the time to get a Standard Abrasives kit and at least smooth your intake and exhaust runners, maybe some short side radius work, and debur the block/clear the oil drains.
Paint the lifter valley to aid oil return to the block. They make fancy ceramics for this but regular rustoleum does useful work too.
Plenty of guys have done low buck 318s, no need to reinvent the wheel: