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I have a supercharged, all forged 383 LT-1 with LT-4 heads. The thing consumes oil at about 1qt per 200 miles (has done this for years, even before I bought it).
After much troubleshooting we concluded it is internal, and the PO believes that it was built in 96 with low tension oil rings.
So.. my winter project is to replace the rings. I can turn a wrench (I replaced the head gaskets earlier this year), and my budget is variable. If I have the money I am going to pull the engine and get it re-honed and re-ringed professionally. If I have a lower budget (likely), I am planning to just pull each piston and put new rings in per the FSM.
What do you all say - go with the professional approach, or is it fairly 'safe' just to unbolt everything, replace rings, and zip her all back up again?
I do all my own engine assembly so here is what I would do. Pull the heads and have a good machine shop drop by and check the bores with a micrometer, if the bores are worn you won't gain a thing by installing new rings. If the bores meet specs then I would hone them and install the new rings
If it were me, assuming there is no other internal engine problem, I'd just swap the rings. I'd install all new rings and go with the standard tension SS50U oil ring set.