After the dust settled, so to speak, I pumped the clear liquid off and sent it down the drain. The stripper is drain cleaner, after all, and we're on sewer here, so no problem. You probably wouldn't want to do that if you were on a septic, though. The paint residue, which might have contained some lead precipitated as lead hydroxide from the caustic solution, if indeed the paint ever contained lead, amounted to only a few ounces or so once it dried. I dumped it out onto newspapers, let them dry then folded them up and into the trash they went.
Bead blasting should be fine after oven baking. I looked into having that done, but was quoted $75 vs. about $15 for the drain cleaner, so that's the way I went.
Be sure to remove the liners from your cylinder block. They are held in with rubber O-rings that would make a real mess if they passed through an oven.
Quinn