Re: piston ring replacement
Can go to shopevinrude.com and get all the part numbers you'll need along with getting an idea of how it's all put together. Like gaskets, seals, rings. Maybe even pistons if the cylinders are scored or way out of round.
Then while you have it apart you can get a good look at all other systems parts for wear or that could use replacement.
Machine work will largely be dependant on what ever you local shops will charge. May want to start calling around to get a ballpark on the machine work.