Why? if the bearings fix his oil pressure problem, he's good to go for a long time yet.
Because he isn't doing the work himself. The labor to do mains, rods, pump, front and rear seals and t-chain & gears alone will get him a low mileage engine. At 220,000 it is getting tired. Yes boys, even 4.0's get worn out. If he were to bring that truck to me to do that kind of work with that many miles I would try to talk him out of it.