Misty is my '91 240 with 177k miles. She's in great cosmetic shape, has all the trim, map pockets are still there, and the seat heaters still work. She runs good too, except after starting it sounds like a diesel until it warms up. The engine also takes about a quart of oil between changes - it's leaking, I think near the rear main and maybe around the timing cover? The PCV valve has been replaced regularly and I've kept up with all fluid changes.

I want to keep this car going for a long while, I enjoy it so much. I don't have the skill or tools to do any engine work myself though. Is a rebuild the reasonable and logical next step to take, considering that I want to continue driving it for another 100K miles? If so, what should I expect to pay at a local shop? Will they replace (and should they) the water pump at the same time? I just need a little expert guidance and I appreciate the help!