05 155 engine rebuild help

[ericcs]

I have a recently purchased 155 wake that is using approx. 1l of oil per hour. I take responsibility for not checking over it more thoroughly, thinking 85hrs use should mean it's barely run in.first ski I've owned, and learning the hard way!
I have removed the engine and the head and found pitting in all 3 bores from water sitting in them, and they are all glazed up, so I'm also expecting stuck rings also.
1 company is quoting $3750au for a reco long motor, so I am now asking for some advice on where to source a reliable rebuild kit and if it is worth it to takle on my own. my limited engine experience suggests I wont get away with just a hone.

http://i62.tinypic.com/141i614.jpg

 

[AircraftDoc]

I have seen some engines used from $1,599 to $1,799 asking price on ebay. I don't know what shipping would be, but one is ready for FedEx. You could do this yourself. You might have to beg and plead to get them to ship to Australia, but I think they will feel bad for you.