Going to chime in and say my money's on head gasket or cooling system issues. I've rebuilt a handful of 2Fs at our shop and I throw away the HG that comes in our kits every time (EngineTech, etc.). A lot of machine shops cheap out with gasket kits - it's FelPro or OEM, or don't bother. The fire control rings and integrated crush areas on a majority of aftermarket gaskets are either severely lacking or non-existent, which results in coolant-combustion chamber issues, or weeping oil issues. Any other aftermarket brand usually has an issue 30-50k down the road or during loads. Constant loads at 3k RPM in hot-ish weather is enough to blow a crappy aftermarket gasket.
See if you can free-spin the engine, then try and have a block test done ASAP both at idle and at 2000rpm.
Further, if you can bring it to a REPUTABLE shop, see if they can hook up an exhaust gas analyzer to your tailpipe and see what sort of things your 60 is spewing out. I've dealt with a handful of PS pressure switches on the 22RE/3RZ/3VZE platforms but to my knowledge the 60/62 series don't have them (maybe on imports?).
If you can't get it running or spin the motor over, I'd drop the pan and inspect for damage, hydro-locked cylinder, seized piston, etc.
As an aside, prior to rebuilding my motor, my dad ran it on 4 cylinders for years. Cracked head, dribbled coolant into the oil from the head, burnt valves in 4 and 6, etc. Thing still ran and made it the 20 miles back and forth for him every day (during the recession) because he couldn't be arsed to address its issues. Rest assured that whatever happened is probably not the end of the motor - these things are fairly bulletproof.
Interested to hear what you find!
PS - It's not a hole in the block, it's just an aftermarket inspection window
