When should i rebuild
Mileage doesn't really matter much. Things to consider are if it burns oil, or has other problems. If it runs fine there is probably no reason to rebuild. You could also do an oil analysis to see if anything is abnormal.
Bad oil pressure readings indicate worn bearings and internal components (provided the pump works ok, you can tell by what readings you get). Typically you'll see the oil pressure in the normal range, and then drop when it warms up.
The oil consumption would indicate low compression (do a compression test) which leads to bad performance and gas mileage.
I myself would rebuild an engine when it's performance becomes unsatisfactory to my standards. Some people don't mind driving an engine which is about to blow up, I prefer a smooth/tight running engine.



