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New Engine? What Would You Do? 200 1989

advice please fellow brick owners!
2 weeks ago my perfectly running 240 abruptly began idling eratically and occasionally stalling followed my the "check engine" light illuminating. i cleaned the intake manifold, checked vacuum and gasket which were all fine, but still idled wrong, so in she went to the volvo shop. 4 plugs, an air filter and $186 later my mechanic advised me there were numerous error codes: amm bad, o2 sensor bad, vaccuum bad and rings were bad. this is a beautiful, faithful 240 with only 170k on her, so upon weighing the pros and cons of finding another like her i asked the mechanic to quote me on a ring job. he told me it'd be cheaper to find a "new" engine. $3k roughly. so, my question to you. should i put in a re-man amm and a new o2 sensor? and should that do it? the "check engine" light is still on, she's idling high and hesitates like crazy upon acceleration. 6 years ago i was told that the amm was bad, but i found the intake was a mess and when i cleaned her up she ran like a charm. sure, she's alittle tired but does she need a new engine? any ideas? thanks.
pomp






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