If the ring is not horribly scratched, has spring tension, and the ring gap is not large it probably can be reused. The ring should be free in the grove. Bearings at $28 a pair seems high.

It should go with out saying that a ringed cylinder should be cleaned and very lightly honed with fine emery cloth. I am nursing two engines back to health now. With a little delicate tender loving care they will go another 100 thousand miles.

Bill