If it's using a quart every 4-5 days, then either the seals or rings are worn, you could use a rebuild then. With that many miles, you might need an overbore, you won't know until the cylinders are checked. There's an engine kit *ahem* in the classifieds.
Ring ridges can happen, and then sometimes they don't. I've seen engines with lots of miles and no ridge while others with less miles would have one. You really won't know until you get in there.
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