A running engine is a running engine - new, rebuilt, whatever. Yes, there are good rebuilds and bad rebuilds. As mentioned before if it was a professional rebuild, the shop should likely have installed either a complete short block or long block (the long block includes the heads rebuilt, a short block you re-use your old heads). If they can not provide paperwork, then it was most likely not "rebuilt" but repaired, as now days the labor cost of a shop doing the rebuild is much higher than actually getting a certified rebuild somewhere else and installing. A repair should not be confused with a rebuild.
A competent mechanic should be able to run a compression test, check the fluids, and such, and give you a reasonable idea of the engines current health, new, rebuilt, whatever.
Having said that, a rebuild, repair, or whatever adds no particular value to the resale value of a vehicle, although from the ads on craigslist I have seen a rebuild seemingly makes some people equate it with being gold plated.