"Well, you've gone this far......"
Too bad you didn't do a leak-down and compression check before tearing it down. It does look like you have some ridge on the tops of the cylinders, but the cross thatch pattern on the cylinders still looks good.
I know of many people who have done whats called a Refresh where they put in new bearings and rings while they were in there. It works but usually it doesn't last that long. Kind of makes the engine run like new, but the worn parts don't extend the life of the engine much. Refreshing is generally for a newer, less worn motor to keep it at 100%. Many racers I know refresh their engine every year, however these are already rebuilt engines. Not engines with 100K+ miles.
Some go a bit further and ridge ream and re-hone the cylinder bores while doing a refresh, but generally if your cylinder bores need this, it's time for a re-bore and new pistons as well. Often what happens is the re-bore makes the clearances way out, so the piston tends to rock around in the cylinder bore and it doesn't last very long, never gets that good of compression, and well, might as well gone the extra distance and actually rebuilt it.
Many say (this is many machinist and pro-engine builders) if you are going to do it, do it right and do a full rebuild. For these Ford engines, it is way too cheap not to.
I guess it's all about budget and what you intend to do with this car. If you are planning to build any real power or racing it, you might as well start with a good foundation.