Here are the pics of the bike I am restoring. It had good compression before I took the head off to look at the piston.

Is it time to replate? Or should I just deglaze and re-ring it?

 

as long as your dimensions/ tolerances are all good it shouldn't need replating, and as long as you dont have any gouges or chafing going on. You should find your dimensions for the cylinder and allowable wear. Measure with caliper or T-guage and micrometer at the top , middle and bottom of the cylinder. measure twice at each position 90 degrees from each other. thats where i would start but i'm no expert