No, not a brand new engine, the damage is already done, even polishing the heads and changing the gaskets wont fix the detriment to the engine from overheating. For the engine to literally be like new you would have to rebuild the rotating assembly; e.i. crankshaft, pistons, conrods, all bearings, valves/seals, so on so forth. The work your getting done wont give you a new engine, but one that works. Don't go into it thinking it will run better than before, it might, but its unlikely. While he is tearing it apart, it would be wise to change the idler pulley bearings, water pump, thermostat, and do an ignition overhaul, plugs, wires, caps, rotors.