Help! 04 Freelander engine issues

[aobrien]

I have a 2004 Freelander with only 70,000 kms but some serious issues... the head gasket is leaking, the timing belt needs to be changed, the water pump needs to be changed, the thermostat needs to be changed and there is a knocking in the engine around the cam shaft... I am being told that my options are to change all of these things for around $3k, or replace the engine with a rebuilt one for around $4k. I dont want to throw good money after bad... so I need advice: Should I: a- repair all of the damaged parts and hope that the engine continues to run well thereafter b- replace the engine with a rebuilt and hope that it does not face any new problems c- do either a or b and then sell the car asap. d- push the car off a cliff please help, I need to decide today! thanks Anthony