I've been working on my 1954 WD45, getting it ready to sand and paint. I cut 6 acres of pasture with it right now, and I have a project this fall where I'll be grading some ground to divert rain from our barn - a little land reshaping. I've noticed lately that when I'm doing mowing there is a 4" wide stream of dark oil running down the side of the engine, eminating at the breather. My original plans were to spiff the tractor up a little, paint it and call it restored.
Now with the oil coming out the breather I'm thinking it's time for rings and honing the liners. My question is: is it worthwhile to do the rings and liners but not do a complete rebuild? Is it just as well to do a rebuild while the engine's down? Can I do the job without removing the engine from the tractor? I don't have an engine lifter or any of that stuff.
How much is likely to cost, ballpark figure, to do a complete rebuild, and just rings and liners?
The whole thought is intimidating because I don't really have the tools or the knowhow. I've gotten the rebuild video from this site and it's very helpful, but the confidence level isn't very high.
Any advice would be greatly appreciated.