although mine had been running for some years like this with the previous owner, when i stripped it out i found the bores in good fettal and they only needed a honing, 6 yrs ago when i did this the parts (pistons, rings, little ends, big ends, mains and full engine gasket set) came to £100 from jeep parts, there was nothing wrong with the bearings, i just changed them as i had it apart
good luck