I would see any way the full rebuild option could get to the $500 mark..unless it's a train wreck in there!!
Piston/rings, gaskets&seals, machine shop labour on the head and bore work should be in the $250-350 range I'd guess depending on incidentals and what piston you go with, all this with you doing the tear-down and rebuild part of course..
Current toys..
1986 Honda 350X..trail bomb!
1985 Honda 250SX..my main mudder
1985 Honda 250ES..Back in Black Trike
Current non-trike toys:
1990 Honda TRX300FW
1995 Seadoo GTX
1998 Polaris Indy Lite 340(Nearly new looking)
1998 Polaris Touring 500
1998 Club Car (electric)