RE: When to replace the bearings
Well let's summarize. If you feel that an engine is a perishable unit, then run it until it quits and throw it away. If you expect to extend the service life by rebuilding an engine several times, then do routine maintenance - at least tear it down and inspect once a year. Either philosophy is valid. A rebuilt engine will never be quite as good as new. A rebuild can cost half as much as a new engine.