I don't know these folks, but as far as I am concerned, whenever I tried to do anything on the cheap in aviation, I got exactly what I paid for.

IMHO you are better off going with folks who can provide economies of scale and sell numbers to make their profit.
For my RV-8 I bought a new engine from Mattituck because of many other friends who used their overhaul services for years and had stellar experiences. As expected I was not disappointed.
If nobody here responds and you can't locate any references on the River City folks, I would beg your friend not to bet his life on it. There are so many good overhaulers out there like Mattituck, Barrett, etc. etc. that offer reasonable prices and experienced service. If the well known overhaulers could do it cheaper they probably would. There is a reason that they are all neck and neck with each other on price in such a small industry. They are all getting the parts from largely the same sources, so it comes down to labor (less experienced?) or worse they aren't replacing parts that should be replaced during the normal course of overhaul. I'd be very suspicious if River City's prices are significantly lower than everyone else. There is quite a difference between overhaul and zero timing an engine as well. If you pay less, you risk getting less. Fine for a car engine, but, well everybody knows the rest.