Yep, what he said ^.
It's not worth it unless it's showing signs of serious wear, and if all you're getting is a little smoke on start-up, it's probably just stem seals.
Even if it were ready for a proper rebuild, dropping in a 2nd hand engine is probably a better bet. These engines are built to tolerances at the factory that are going to need serious work to recreate during a rebuild, so my view is to keep the factory work original for as long as possible.
Heads-off, new stem seals and lapping in the valves would probably fix the smoke and is about the most I'd bother with.
When I built my kit car I stripped the engine and delivered the component bits to an engine workshop to be checked (I was tuning the engine, so it had to come to bits anyway). In the end I decided on a rebore and new pistons as the ring grooves were a little wide. It also had a crank polish, new bearings, valves lapped and a skim. IIRC, the bill for that (on a 4 pot) was 700 odd quid and that's 15 years ago and what I got back was another box of bits for me to reassemble. That was a 4 pot too.
Still sweet as a nut, though, despite the abuse it gets. As a mate of mine used to say: "Build 'em well, then give 'em hell!".