Smoking on acceleration or decell?
The first would be rings and the second is normally valve seals (Unless I am mistaken and would happily be corrected if I'm wrong.)
That said, I don't think I've ever heard of a brick needing rings.
Pulling the cams and buckets shouldn't really be difficult. Depending on when it was last done, I'd spring for new gaskets, half moon seals and cover rubbers too.
tg
I was going to mention that as well. Deceleration from closed throttle pulls a vacuum in the port, sucking oil through the valve guide and seal. Both of those wear out at high mileage. It can also pull oil through the rings, but the valve seals are more common, and make more smoke usually.
Is the smoke blue, white, or black? Oil use is normal on a K. Before you do a big job, lets make sure we're solving the right problem.
Bricks can wear out their rings, they are sacrificial to protect the nikasil. When I did a post-mortem on my K75 with ~100k miles (maybe more, not sure how accurate the ODO was, or if it was replaced under warrantee), there was definitely piston/cylinder wall clearance, and the rings seemed somewhat worn. I didn't measure them, but there did appear to be excessive gap. I could feel a slight ridge on the cylinder wall. There was less than ideal maintenance on the bike prior to my ownership, and I did a lot of hard miles (4000 heavily loaded, high speed) with a stuck open thermostat that I didn't discover until I was looking at data logs on the megasquirt. Lower temperature running does extra wear on cylinder walls, engines are clearanced for their proper operating temperature.
This is my DIY spring compressor. The foot of the clamp has a rag placed over it, and it is placed into the combustion chamber with the foot on the valve. The socket, with the access slot cut into it, is pressed down on the spring retainer, and the valve keepers are exposed and removed. Then the pressure is released. Reassembly is the reverse of disassembly. This is the trickiest part of the whole job, there is a real trick to getting the keepers in right, especially on the smaller 4v engines. After removing the springs and valves, you pull the seals off with pliers (they make special ones too, not always needed), and install the new ones. The new ones should be soaked in oil, and placed over the valve stem, and guided down. Then tap them into place with a deep socket or proper driver. You have to be careful of the valve guides while removing the old seals, and careful of the seal lips while replacing the seals. Make sure all parts go back to the proper position where they came from.
If you are good with mechanical stuff, it's doable, but if you are unsure, get the head off, and remove the buckets and cams (label which cylinder/valve they came from), then take it to a shop. They can probably do the whole thing in an hour or two, and they already have the proper tools.
