If you are replacing the timing chain,DO REPLACE THE TIMING GEARS, you always replace the gears and chain as a set, not doing it is a false economy. You will want to do the timing chain tensioner.
As others have said check the ring gap and if they are w/in spec just put them back in. Decarbonize the heads and pistons. I read somewhere that you'll want to leave the carbon that is just above the top ring on the sides of the piston (read in the Clymer manual). Something about burning oil if you remove??? Look for scratches on the piston, if you have more than a few then you will probably need to have the cylinders mic'ed.
When you drop the oil pan, remove and clean the strainer and make sure the pickup is tight.
Go ahead and replace the rod bearings whether they need it or not. If they look beat up then you've got a problem. My rod bearing from a 100,000 mile G/S looked great, but I still replaced them.
Here's a post you might find interesting.