Doug,
The first engine I rebuilt (some years ago now) was running well pre-rebuild and had good compression, but I was young and 'idealistic'. I had it honed by a local shop then put in new rings and bearings. I thought I was meticulous with cleanliness in the reassembly. After bedding-in, compression was down so I pulled it down again after only a couple of months for a rebore and crank grind. The new rings couldn't wear in to the oval shaped bores that the old rings had still been quite happy in, but the biggest lesson was learned looking at the new big-end and main shells. They were significantly scored due to inadequate cleaning at assembly. Oh, the other lesson was 'if it ain't broke....etc'.
Good luck, have fun and learn a lot with whatever you decide to do. It's also good therapy if you don't take it too seriously.
Cheers,
Glen