Dang is right. Unfortunately that seems to be the right number to use if you're having an engine replaced with a new(not rebuilt) 454. We took one unit we considered to a local Chevy truck dealer for check out. It had a low compression (75) in one cylinder while the rest were OK (120-136). They quoted $7190 for a new 454 long block installed with misc. hoses, clamps, etc.
We looked at anouther unit that had recently replaced the 454 with a new engine at a local RV shop. Saw receipts for $6892.
Spoke to a guy on the phone selling yet another unit who said he had a new 454 after considering a rebuilt or a new short block. His cut at it was the cost of labor and misc parts were such that it didn't make sense to pass on a new engine and it's 5 yr/50K promise.
Not inexpensive is it?