Hi:
It sounds like you had a head or intake gasket problem. If water continued getting in to the oil or if you never changed it, that is what caused the engine to lock.
As far as the new one, unless it has the same problem as your old one, it should be fine. Did you get a warranty with it? Also, timing an engine requires a timing light unless the distributor was removed. A timing light is a very common tool and not hard to find.
Let me know if you have any other questions.
Joe