1986 Crusader 454 - heads off, should I do anything with the valves?

I broke some very rusted exhaust manifold bolts, so both heads came off. Original engines, boat has +/- 1,600 hours, but this engine is .040 over so was re-built at some point, but don't know when. Has been running fine, appears to be firing fine, though compression is on the low side (115-125). While they're off, I'm going to have the heads resurfaced (including exhaust manifold surfaces). While I'm at it, is there anything else I should be doing - such as have the seats ground? Or just lap the existing valves? Any other valve work I should consider? Replace the valves? Replace the springs or seals?

I don't mind investing some money if it makes sense.

Thanks for any thoughts.

Have the heads rebuilt by a reputable shop.

2X what Chris suggests!!

Was the oil pressure good prior to pulling the heads? Can you see cross hatching on the cylinder walls?

Check/ replace the timing chain?

Thanks for the replies. Oil pressure was fine (40-60). I can still make out some faint cross-hatching on the cylinder walls.

I'm going to have the heads resurfaced (including exhaust manifold surfaces). While I'm at it, is there anything else I should be doing - such as have the seats ground?

Click to expand...

Ayuh,..... Don't order the work a la cart,.... just tell 'em to Rebuild the heads,..... They oughta know what to do,....

Dropped them off today... reputable shop... ~$450 to completely re-work both.

Thanks again.

Dockside Marine Services, do you know of a reputable head shop in south jersey?