If you are burning oil, its the piston rings. If you are burning that much oil, you are not going to sort it with some new rings. What i would do, is get the block re bored, new pistons, I wouldnt bother with the bearings, its not them that are causing the problem. However, if you are going to do the labour yourself, and that means taking the engine apart, if you did the bearings, and the cylinders, you would effectively have a new engine. I used to be a mechanic, so i know what i am talking about, but, what you should really do, is a compression check to see what is happening, you could find its something simple, like a blocked breather, that is causing too much back pressure. I would look at the simple things first, even if it means leaving the oil cap off and running the engine, and seeing how much oil it uses. After that, i would go for the big things. You used to be able to get oversised rings for volvo, and they made a huge difference, you had to use a glaze breaker on the bores first, then you just put the same pistons back in with the oversize rings, dont know if you can still get them.
