Leanrun,
It's the version that uses standoffs. Frank said if it is a 2-ring model that I should only replace the top ring. There will be less drag/heat that way. I won't take the engine apart until I have the gasket set and new ring in hand.
Mine only has modest compression and that is why I plan to go with a Bowman ring. Several times I have made that decision and each time was amazed at the difference in compression and how much easier they are to hand start as a result.