I don’t know if you need an oil pump or not, but one idea, ask if you can defer the oil pump work until you’re sure the new timing belt fixes the engine-won’t-run problem. They can usually fire the engine up without replacing all the covers just as a test. No point in spending money on the oil pump job if there are valve or camshaft problems remaining. I’d probably do a compression check after replacing the timing belt if I had this problem myself.
As far as spending $1400 to get the car back on the road, I don’t think that is an unreasonable thing to do. I usually figure on about $100-$150 per month maintenance and repair will be needed on my older cars, and budget for that. Even at $150 per month, a lot less expensive and less risky than buying another car, especially a new one. However, if you are planning on selling the car in the near future, that could change the math. In that case you might be better off $-wise just to sell it now , even if all you get is a few hundred dollars.