Gary,
That actually sounds pretty good compared to our area. Any head from 1972,or as far as that goes, any small block head with more than about 60K miles, if it has never been worked on, is going to need valve guides. Figure in a few new valves, maybe springs, resurfacing and a good 3 angle valve job and you would be around $350 for the pair in my area. This does not include installing hardened exhaust seats, which should probably be done on 1972 heads. That adds another $100.
Small block Chevy's do not require new head bolts unless they are visibly damaged. Make sure and put a liquid type thread sealer on the threads as they go into the water jackets. We use Permatex "Indian Head" gasket shellac but teflon pipe "dope" will also work. Also make sure and put some motor oil on the underside of the bolt head where it contacts the cylinder head, this will give you a much more accurate torque reading. Fel Pro makes a real nice little booklet on installing gaskets. It is available for FREE and your parts store or machine shop should have them. If it is your first time, this book in invaluable. You may also want to ask the machine shop for thier recommendations. They should want to help you to make sure that you do a succesful repair. Looks good for them !
Hope this helps,
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Bill Koustenis
Advanced Automotive Machine
Waldorf Md