New Jugs or leave it alone?

Looking for input, im no mechanic and I am new to aviation so i have lots of dumb questions. Heres the scenario: You have a 1500hr O320 150 hp engine with decent compression in all cylinders in an RV6, would like 160hp and a fresh top but from what ive been reading in various publications and forums its best not to replace cylinders unless absolutely necessary. Is this the common consensus? or am i reading to much into it. Would it be best to run the engine out and then either replace new with core value exchange/MOH? I know im not going to get an absolute cherry in my price range but i want to give myself the best chance to fly for awhile before i have empty my savings account again.
Input appreciated.

Leave it alone. 10hp is not going to be very noticeable and will risk doing more harm than good. Also a lot of money when you currently have good compression.

Depends if you will keep this plane for a long time or are planning to sell. If planning to sell it would be worth more with an overhauled engine than a timed out engine. If planning on keeping it I would run it well past recommended TBO as long as oil analysis checks show no bottom end wear issues. The question about new cylinders is a matter of your preference and bank account funds.

"The Wants"

Hi Clayton,
First, Mike & Keith give you some good info there.
I believe you are presently suffering a common affliction to us all, "The Wants". We all want a newer, bigger & badder engine. I want a RR Merlin to replace my 160 hp O-320.

A common misconception, I've learned over the years, a low time engine is always better than a mid to higher time engine. Not always. My old mentor and prior owner to my present -4 was a Naval Aviator and for a good long time, flew the 7th Fleet Commander & VIPs in a 4 engine C-118A (or some variant of a DC-6) around the Pacific.

He told me several times that aircraft, when used as a VIP carrier, never had an engine on it with less than 500 hours minimum before being tested on other aircraft. No new or freshly overhauled engines for the VIP carrier. Their crew would scrounge the Navy inventory and rob other aircraft of good proven engines to put on it. A good engine is just that, a good engine. Like Mike says, if all is looking well use the thing. Seriously, I really want a Titan O-340; but my O-320 is running too sweetly for me to trade it out now. I have every confidence to get in it and head out 500 miles or more.

Check out Mike Busch, the Savvy Aviator, and see how many hours he has on his engines. So if all is well and it is performing properly, there isn't real justification for changing or overhauling. The Wants is a powerful force though and may take precedence over logic. Just saying.

Good luck with your dilemma.

Cheers,