I'm sure others will give their thoughts and opinions...but if it were me, I would re-plate the cylinder, new piston/rings/wrist pin/wrist pin bearing/circlips....throw those crusty old cylinder studs out and put in some crispy new ones...(but after you have lapped the cylinder and head to be sure they're both flat!), and a complete Cometic top end gasket kit.
Then you know everything is new and should last you a while providing you're good at keeping on top of your general maintenance.