When is it time for a rebuild?

My truck engine (235) has probably 200,000 plus miles on it. I keep it tuned up. I’ve replaced some minor things and rebuilt the carburetor. It runs OK but I don’t drive it too far from home.

It only gets around 11mpg (city) but it doesn’t burn oil and I don’t see any leaks. The compression could be better but it always starts up every weekend. The engine seems tired after its run for an hour or so, which is understandable after 50 years.

Just wondering what others would do in this case.

Thanks.
Mark


1956 Chevy 3200, 1/2 Ton, 235 CI
https://photos.app.goo.gl/TQQo1YnFjs3U7xB57