Questions about diy engine hone and ring replacement

[bennington28]

I bought a 95' corolla for $500 from a neighbor. It is a great car, and is amazing on gas. I performed a leakdown test and num. #3 cyl. is loosing compression through the rings. The car blows lots of smoke when the car is pushed over 4000rpm. Car has 81000miles. Car blew a head gasket after I bough it- I suspect that the effects of the leaking head gasket may have contributed to that cyl. having a problem.

I am thinking about changing out the rings myself. I have replaced engines before and everything else, but have never honed a block.

What do you think? I have a toyota engine in the garage with a cracked block. I figure that I could practice honing on that block before I hone the honda. I see that there are two types of hone tools- a type with metal balls and a type with hone stones. Which works better?

Is there a brand of rings that seal without honing? Which brand of rings are the best?

I would appreciate any other suggestions.

[hachi_slow]

What grit are you planning to use?

[alltrac165]

Just to clarify, did you already replace the head gasket?
And what results did you get on the leakdown test. How much leakage on each cylinder. And how did you determine it's rings. Not to doubt your abilities, just checking to see if your barking up the right tree.