Don't try to press it off and on the rod, take it to a shop that has the proper set up.
You can get a better call on it once the head is removed.
A couple dangers in running it, the top ring land may be crimped down on the top ring. That will lead to seal failure, and cylinder wall damage.
The skirt may be cracked or collapsed. At best an annoying knock, at worst a rod through the block!
With the piston out the cylinder can be honed to remove any scratches. A few minor ones won't hurt. Deep though are a problem.
Once the head is off, you can check the valve seal bu laying the head on it's side, ex port up, fill the port with diesel or some thin liquid, look for leakage around the valve. Flip it over, check the intake. If leaking you can replace the valve, lap it in. Be sure the seat didn't get dinged. If it is, to the machine shop.
That engine came with a steel shim head gasket. Don't go back with that, use a composition gasket.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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