Technically if you look at the old Chilton's or Mitchell flat rate guide, a "rebuild" simply means that you disassembled and reassembled an engine. Nothing about machine work either yay it nay. If I remember right it includes cleaning and inspection, and reassembly with new gaskets. But if I am going to go thru all of that and don't want to have a redo, I count on the engine needing everything until proven different by inspection and measurements. I only want to rebuild any given engine one time. Like tget say assume the worst hope for the best