Well, Phil, first of all, it seems you have a 1952 TO30. The Z129 was the Continental engine used for the TO30's. See the link below regarding serial numbers. Your problem could indeed be rings, but valves might also be the culprit. A shadetree way of figuring out is with both a dry and wet compression test. I'll try and make this short:1. Remove all sparkplugs and disconnect coil wire. 2. Do a compression check on each cylinder and write down number. 3. Put approximately 2 tablespoons in each cylinder and do second compression test and compare numbers. This acts as a temporary seal for the rings. If the compression significantly increases after adding the oil (wet test) it's a good indication that your rings have had it. If the numbers stay about the same, then your valves are shot. If you do need new rings, I would reccommend doing the whole shebang, which is easy for me to say, because it ain't my wallet. While you have the head off, look REAL closely between the cylinders for ANY sign of hairline cracks. However, if you did have any cracks, you would probably know by now, because of oil getting in your coolant. I hope I helped and that what I said makes any sense. If not, I'm sure some of the old pros out there decipher it for you. Good luck, Chuck
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