Did your friend use a micrometer to measure the piston & compare to specs? Did he use a cylinder bore gauge to check cylinder wear, or an inside mic. to measure bore size to determine wear? Cylinders wear to a barrel shape so only by measuring this taper can you determine what needs to be done. Are you going to break the glaze on the cyl. walls (providing it doesn't need to be bored)? Just a few of the ? I have before deciding what to do.
If you were using oil, I would replace the rings. While it's easy to check end gaps on compression rings to check for wear, I know of no good way to be sure oil control rings still have proper tension to maintain a good seal.
If it was mine & didn't need boring I would still hone the cyl. & replace the rings. I would also do a search to see if anyone offers a 'gapless' ring set. Leakdown tests on engines I've built with them typically have 2-3% leakage compared to 6-7%+ with normal rings. After a full season of races they are still 2-3% & normal rings are as much as 12%. If you are already this far into it don't cheap out now, it will just bite you in the butt later. JMO
And it might be worth it to take the piston & cylinder to a machine shop & pay them to check it for you.
Hope this helps.
BTW, I'm an ASE Certified Master auto tech. & I've built a few engines over the years.