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You will get about of cup of coolant out of the cylinder drain plugs, as it lets out the coolant stuck in the head passages that cant drain by gravity to the bottom coolant hose, so its normal. I would recommend a flush before finishing up and adding coolant.
Take some pics and post them of the heads and cylinders, and people here can tell you what they think. As for valve guides, I would check them (replace them only if they are bad) and lap the valves as it makes a huge difference. I picked up a set of valve oil seals when I did my heads off Ebay, and they were not that expensive for a set of 8. chances are when you check the valve guides they may be ok, the manual gives you the slack and wiggle values.
Take some pics and post them of the heads and cylinders, and people here can tell you what they think. As for valve guides, I would check them (replace them only if they are bad) and lap the valves as it makes a huge difference. I picked up a set of valve oil seals when I did my heads off Ebay, and they were not that expensive for a set of 8. chances are when you check the valve guides they may be ok, the manual gives you the slack and wiggle values.