Cheap Rebuild 225
check for a ridge in the cylinder, this will tell you if the cylinde is worn. If its smooth, hone it to a 45-60 degree cross hatch and re-ring it. The crosshatch gives the rings the necessary oil to seat. if you re-ring a glazed cylinder (lapped mirror smooth) they wont seat and ill have blow by. Top end: check for valve sink. place a straight edge across the valve stems and see if any are higher. pop the valves out and check the seats. These heads don't have hardened seats so youll get some seat wear but dont accept any that are out of the average depth. Look at seats for any wear patterns and use a scotchbrite pad and clean the seats to see if there is pitting. I made a seat cutter out of an old valve and a carbide cutting tip. notched the valve lip and silver soldered the cutter in at 45 degrees, ran it with a drill slowly with slight pressure on the valve face and it worked! That and bearings, timing chain and can of spray paint...Craigslist rebuild! Your labor cost will kill you so whatever you can do by yourself is money saved. Just put yourself back into 1920 when they did all this stuff by hand....