141,000 miles, smoking, 126/142/142/146 comp. "What to rebuild?:"

[Gooberlog]

I bought my sweet '93 TSI AWD about a week ago with 141,*** miles. The car is in GREAT SHAPE inside, out, and running condition, BUT it smokes heavily at start up "i have valve seals to install", and i dont' know when the last timing belt/waterpump were done. In addition to Valve seals, Timing Belt, Waterpump etc. i'm gunna replace the clutch "act 2600?". My compression was 126/142/142/146 and the 126 kinda bothers' me. Not too low but i wanna put 20+psi through it eventialy. MY QUESTION IS- If i'm gunna do all of this at once, I'm planing on pulling the engine out to make this all easier, and i'm wondering if i should use this time to replace my piston rings, bearings, pistons etc? I'm not looking to build the ening with Pricey internals just maybe metal headgastket, headstuds etc, removed balance shafts. What all would you do looking at my plans and dealing with this kind of milage and Compresion? Thanks for any help and advice.

Travis

 

[Mindslayer]

I'll just take out the balance shafts, metal head gasket, arp head studs and do the valve seals. Don't touch the bottom end unless you have to with the rod bearing and so forth.

 

[Gooberlog]

Don't you think that if i'm pulling the engine out of the car, that i should replace my piston rings and main bearings and rod bearings while i'm in there, in addition to the other stuff? I mean i do have over 140,000 miles and i want to push some boost through it.
Travis