I wouldn't make any decisions until the tear down. If it just snapped the rod, then maybe just a new con-rod could salvage the engine.
If it looks like somebody threw a grenade through the carb, and floored it...Then a new piston/sleeve is in order.
If it messed up the bearings, or scarred up the inside of the crank-case, then it is a paperweight for your desk.

What method are you using for break-in?

Also...Maybe a bit late, but...Always turn your controller on first.