That sounds like my 2.0 55 years ago. 
I put in new rings and big end bearings and did a valve grind, deglazed the cylinder walls, nothing else. Fixed all the issues. 
Only subsequent problem was, driving from Sydney back to Longreach, about half way started getting severe pre-ignition. Pulling the plugs showed that the centre electrodes had worn to needle points. Fortunately, I still had with me the old plugs that had kept oiling up, put them in, no further problems.
				
			 
			
		 
			
				
			
			
				John
JDNSW
1986 110 County 3.9 diesel
1970 2a 109 2.25 petrol
			
			
		 
	
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