If you don't mind doing the work yourself or having non OEM parts on the trike then it would not cost too much to rebuild an engine that is not too far gone like yours sounds like. I guess it also depends on how complete of a rebuild you are talking. Bare minimum would be a gasket set ($40), a set of rings ($30), and a hone job ($20), not exactly a full rebuild but more of a freshen up.
More then likely you will what to go with a new oversized piston and rings ($60-120 depending on brand), bore job ($60), gasket kit ($40), cam chain ($20), maybe new cam chain guides ($40). A new clutch ($30) and springs ($15) along with shifter return springs ($20) would be a good idea too. If you want more performance then it would be a good time to replace the cam with a performance one and install new rockers ($60-$200). Your crank and rod are probably ok if you have a good running engine that just smokes a little.
These are all very much ball park figures, check around for more accurate prices. I get most of my parts from www.denniskirk.com www.bikebandit.com and www.servicehonda.com
While the engine is apart it is a good time to strip off the old paint and repaint it, just let it dry for a few days before assembling to make sure the paint is fully hardened so you don't chip it.
Check the write up Chainsaw did about wet sanding plastics, it works great as long as you have the time. (here it is… http://www.3wheelerworldforums.com/s...lastic+restore )
1984 Yamaha YT 60 Tri Zinger(current project)
1983 Yamaha YTM 200 (rear suspension kit)..... long term project
2004 BMW R1150R
1972 Honda CT 70
2007 Lifan 110