Re: rebuild or replace
If you do a little searching on this site you'll lean that sometimes low compression can be caused by sticky rings. If you free up the rings your compression may come back, that is done by the decarbing process. There are several places here you'll find the recomended process. In my only semi educated opinion, in your case I would certainly give it a try. It may cost you $20 max. Next thing if that does not work, pull the head and see if you can tell if the head is warped or you just need a new head gasket. That's another $10 for a head gasket. If it's warped you can get it planed for $30. Why pay a wrench for something that I assure you, you can do and maybe save yourself a whole bunch of $? And more importantly learn something about your engine.
