There is no real difference in balancing and blueprinting besides the location of the person talking about it, or whether the shop doing the work wants to sound more impressive [b/c blueprinting actually sounds like you're doing something super special...]. The truth is that an engine being re-built has to be re-spec'd anyways, and so it's re-built to the specs you want, end of story. Going through the blueprinting/balancing process, you do that re-spec'ing of everything, and then make sure it doesn't shake itself apart, that's it.