It's been a long time since I last posted about my build, but I have been making steady progress. I managed to rebuild the top end of the motor with new rings, newly honed cylinders, and re-cut valves and seats. I have a few of the pictures here, but more are coming. I made my own ring compressors out of these nifty finger-cranked clamps and some galvanized sheet metal that I carefully shaped and filed the sharp edges off of. To compress the valve springs I used a big C-clamp and a piece of PVC pipe, cut to give me access to the end of the valve. I took my time, concentrated, and it worked like a charm. I also replaced all the gaskets and o-rings save for the head gasket, which is expensive. Mine looked good, so I reused it.