Basket case?.....
you mentioned the cheapest route/not to sink money, so, I mentioned get rings, and now replace'n gaskets/o-rings, why not dislodge the ring, clean the surface/groove from piston, get it to where the ring is usable, then if possible, install everything, and go from there.
Most likely, ovious fix and cheapest, would be to send to "sbt", get new motor for 800buks, being a 96", if you want it to be reliable...:cheers:
Sounds like we got a bit in common. I had one like that.
I got a Yamaha that had gone under, then they just sat it in the back yard. I did some motor work for them on their Boston Whaler and they gave it to me for payment. The carb and motor was froze up and I poured the PB Blaster to it and within 3 days, it broke loose.
Now, here's why I quoted timmyboy. I did not want to invest one penny in this thing till I knew I had a motor that would meet at least a few seasons. So, I used old gaskets, blue glue and what ever McGyver stuff I had to, just to get it back together and make it run.
I rode it in October and November. There is a noise coming from the rear crank bearing (heard with my stethoscope), so I think I got a flat spot......but, it runs.
Now, with good compression (I should say o.k., not really good), I'm going to take the motor back down and look at the suspect bearing and go ahead and replace all the gaskets and see if it'll make this next coming season.
The point is.............you don't have to replace that gasket. It's a 2 stroke. It doesn't have a water jacket at the bottom of the head. It comes in at the side. So, try and trim it up and do like timmyboy said, try and draw that ring out and clean up the grooves, then slap all that stuff back together.
Once you think you got something that's gonna be worth puttin money into, you can estimate how much and what it is your gonna need, then make an informed decision on whether it's worth it or not..........
Is this the right way to do this?........... No. But I did it anyway.:cheers: