i just got done doing a ton of work on my motor which had 2 broken and 4 bent valves. there was metal bouncing around in that cylinder when i took it apart and the cylinder walls were pretty scuffed up. one trick to see whats in there is to try sticking a long slender magnet into the the cylinder, but i can't remember if the valves are magnetic.
it would definately be a terrible idea to drive it (but it was a bad idea to do that with a spun bearing for the last year) i'd say if u absolutely must drive it (because of lack of funds) remove the spark plug and disconnect the fuel injecter plug and u could possible drive it w/ a dead cylinder.
definately just pulled that out of my azz but that sounds cool lol.
for me doing that rebuild getting 6 new valves, a head gasket set, rings for 2cyl, cylinder honing, intake manifold cleaning, full engine gasket set, oh and a haynes manual from AZ i spent around $800 doing all the work myself besides getting the valves installed and the head checked out. it nickeled and dimed me to death which was terrible. especially since im a 21yr old college student w/ the only things going for me, some mechanical experience, nearly unlimited access to tools (thanx to dad being a former mac tool distributor)

and a credit card.
good luck man let us know if u need any more