I have two "old" cubs. A 125 and a 1450. I have overhauled both - the 125 is bored .20 over the 1450 was still standard after 900+ hours of service. Had another 125 that I "restored" with an overhauled engine, new steering parts, new PTO clutch and paint - let it go for $750 still probably lost money on it.
The 1450 is a real horse of garden tractor. Wife ran it into our 8'X8' garden shed and started pushing it across the yard before she got it stopped. Luckily it didn't hurt the shed or the Cub (nice heavy casting on the front).
The rebuild kits (rod, piston, rings, gaskets) can be had on Ebay for $100 or so. Machine shop work is usually in the $30-$60 range. Bring them to the machine shop first so you know which kit to get.
My 10 year old son has a Kohler K301 sitting on my work bench that he's rebuilding as a 4H project (extra 125/127/129 engine). He has it down to only needing to install the gas tank, carb and exhaust but he seems to have stalled out. With the fresh paint it looks good for a 40+ year old engine.
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