Sounds like time for new rings and a honing at least, might need to be bored though, all depends on how badly its worn. I did this job on a 185 for a guy, wasn't too bad, in his case the cylinder looked ok, i took it apart without pulling the motor, set the whole thing up on a picnic table so i didn't have to bend down the whole time. Ran a hone through the cylinder on a drill press setup a friend of mine has then put new rings on, a new wrist pin and bearings. Tossed it back together with some new gaskets and off it went, still running strong i just saw them about a week ago.
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1984 Honda ATC200ES "Big Red"
1982 ATC200E "Hondie"
1988 TRX300FW "Project Quad" Still in progress....