318 timing chain.....and why the engine should come out.

1000 miles in the next 5 years? I would not put in new rings. (I would not have gone past replacing the chain for that.) Since you have not measured bores for wear, taper, or out-of-roundness, and have not checked piston groove wear, it is an unknown if will smoke or not with the present rings or even new rings and a hone. I'll disagree a bit with others: The probability that it will not smoke goes up with the new rings and hone, but you really don't know what you have for component wear and condition, so no one can tell you the result with 100% certainty. It just takes one badly worn spot...