For what its worth, #5298 is currently at 116,000 miles and still running well.
The only engine work was at 32,000 when the headgasket was replaced, and at the same time I replaced the cam chain, primary chains, tensioners for both, plus of course ALL seals / gaskets. The output shaft bearings were also replaced as I found some pitting of the races. All other bearings, shells, piston rings, valves, etc, were put back in. 84,000 miles on , there is no primary or cam chain rattle at all.
As to what should be replaced during a re-build, I would simply say anything which has any signs of wear / corrosion, and anything made of rubber (inculding cam tensioner and primary tensioner components) which may have hardened and therefore could deteriorate if / when next used. Mileage is perhaps also a factor to consider, but my experience suggests any motor with modest mileage which is clean looking will likely be good to go again.
Cheers - Chris R.