A little background info:
1991 Civic DX 4-DR, 5-spd, 280K

Was driving the other day when around 40MPH, the engine died (with a clunk no less). Computer gave me a code 15 which has to do with a wrong ignition timing signal. A quick roadside check saw no spark, so thinking it was the rebuilt igniter/distributor I put in 6 months ago, I brought it to the local Napa shop for a warranty repair. They put in a new rebuilt but it didn't solve the issue. Their prognosis was that the timing skipped a tooth or two, due to a failing timing belt tensioner (the belt still looked ok). $600 later it runs, but...

It now burns oil. At 280K it did consume/leak a little, but nothing like what it's currently doing.

It smokes when you start it,
It idles OK, but misfires occasionally,
It will NOT reach redline when floored, it simply burns oil and wants to choke out/die
Above 4K the oil consumption is noticeable, above 5K it's ability to run changes.
Overall noticeable loss of power

The A/C works and the front suspension is a year old. I'd like to drive it till next spring or so, but i'd be nice if i could trust my civic's through another ICY MN winter/ensure my engine doesn't slowly carbon into *****

So..

Oh awesome lords of Honda knowledge, what say you of my d15? New valve guides? Junkyard head & new gasket set? Thanks much for looking

P.S.-While a engine swap sounds fun, I’m not entirely inclined to do so.