Crate motor - what is the wait time to build one. I believe everyone is months out. Then there is their warranties, as in you can buy one that will cover removing the defective new engine and installing the replacement. Not inspiring at all. Even reviewing the particular Builder he is considering, the web site is general on what they do during a rebuild. I would like to see their process and quality checks. Someone is asking me to do this, and I am reluctant. I don't want to do it twice.
Local rebuilder - Mine is weeks out, one of the last guys in the area, so he is busy. Parts availability is still spotty. But, If there is a problem he is right there and you are keeping a local guy in business. You can stop by and check on the process, no shipping issues/delays.
I, myself, would tend to use the local resource. I have been using my guy for 28 yrs, so I know what he puts out.
Good luck with your decision. Doug.