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Yeah, that's probably reasonable considering parts and machining labor. That'd essentially be a valve job. These engines are prone to valve recession - although the precise cause is in some dispute (unleaded gas vs. springs)(. Either way, having hardened valve seats installed is worth the small extra cost.
Have you ever done a compression test on your cylinders? Inexpensive (if you buy a $20.00 compression tester) and it will give you some insight into cylinder and valve health. Basically, it will tell you if you have a bad cylinder.
Worth doing before paying for a valve job.
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