Reringing is an option when cylinder wear is within limits..If you have a ring ridge chances are a rering will not last very long. Like was said above, an inframe valve cleanup and new rod inserts are pretty much standard practice when reringing instead of a full machine shop rebuild. At a minimum on the valves, removal , decarbonjing, and lapping in are worth doing now. if your pistons move around a bunch in their holes, a simple ring job will not cure it.
I guess it all depends on how quickly you can pop out your motor whether the time savings are worth versus having have the complete job done. Do you have good sealing on the rear main or does it drip pretty good? Is your clutch good or on its last legs? Do you need to clean out your cooling passages in the block or has the engine been pretty well maintained and it still had solid freeze plugs, not ones that are starting to weep?