I'm gonna have to go throught the whole thing. To the rings.

At the point that an unknown longblock that I bought,(that is now a shortblock sitting in the dining room), Is the engine that I intend to be my dependable vehicular heart; I feel to disassemble the whole thing to the rings and bearings. The only things that I will not replace are the wristpins. At about an additional $90, Seemingly a days pay, Should I replace the cam, crank and connecting rod bearings if they are not bad? -and show no signs of wear?
-Also, I will have to check the rings on one piston because I must hone one cylinder slightly. The intake was off and there was water in the cylinder through an open valve of the front right piston. There is about a quarter of a golfball sized wedge on the outer wall. The rust was minimal when I saw it when I decided to take the d80e heads off of this roller block, without roller lifters. Should I just say that I need better rings and get chrome moly ones for all cylinders and do a re-hone?
I can see some crosshatch that is very visibly evident in all 8. If I re-hone, do I need to get a different size set of rings? The pistons are forged aftermarket. Can you hone too much and bring it close to a bore with the honing tool?
-A motor is a mountain.  

Sounds like you should take it all apart.  Since you don't know a lot about the engine, I would replace the rings and bearings.  Look good and "is" good are two different things.  A good set of moly coated rings (chrome moly is roll bar tubing BTW) will run around $100.  I would not replace the cam bearings unless they are damaged.  Get a mild hone on the bores to set the proper pattern for ring break-in.  A "glaze break" type operation will not enlarge the cylinders.  Buy rings to match the pistons - measure to see if they are stock or oversize. Same with the crank - if somebody went through it before, things may not be stock sized.  Then clean the block - everywhere - such that you can eat off it and clean everything going back in the same way.  And I don't mean blow it off with an air blast - hot soapy water, bottle brushes and scrubs, blow dry, WD-40 soak to prevent rust.  Remove all the oil galley plugs before cleaning so you can clean those passages.  Be sure to mark the plugs so you get them or replacements back in the right spot.  
1967 Falcon 4 door 351C-4V
1970 Mustang 351C-2V
http://raceabilene.com/kelly/hotrod
Owner built, owner abused.

Yup! Gonna be cleaning the cobwebs out of the oil passages as well-Champher city here I come! And hot soapy degreaser is the way to go! Got my gallon of wd40 already too- I never intended to get this far into it, But I always felt that I would one day. The end result will still cost less than someone elses unknown mickymouse rebuild and I will be awarded surety. I am going to enjoy removing those oil galley plugs too. I've been wanting to take them out. Just to relate- this is/was my transpo that the engine crapped out in. For 5 months I have been bussin and hustlin arts to get movin again. There is no simple way out unless you are a builder already. I will not be broken though. Now I am getting a e350 with a 5.4 in trade for lettering my neighbors truck. Ford is there even when Ford is not. That is just another reason they call it a Ford Family Of Fine Cars.
Fixed rockers, and self contained timing cover....What a wonderfull world!
Thank you for the info and response once again-
1988M.G.M.306
1998e350 5.4
1968Newport383
Smokin...Tires!