Most of them give guarantee that it wont eat up engine oil, some of them even tell you mileage of engine, but then again, there is no way to verify these things ...
as far as overhauling is concerned, i have researched a bit and met some people as well who said they had done the overhauling but they are not satisfied, either the problem was still their, or some other issue arose due to overhauling ....
now these issue can come in swapped engine as well, and why mechanics prefer to change it instead of overhauling ... only they can tell you ... it may be due to expertise, being more laboursome and time consuming than replacing or something else ....