I agree, sounds to me like you're looking at a full engine overhaul. You can throw rings at it, but that will be a short and temporary band-aid before the rings will fail again, likely with catastrophic results the next time around. Should be pretty evident if it needs a bore with new pistons and rings just by looking at the cylinder wall. If scratches are noticeable then they're done for, you can run your fingernail along as well. If you can feel them, time for a bore. Shouldn't be terribly bad to have the engine rebuilt though, maybe $1200 or so from an independent shop.