132k is not that many. Do you know anything about the previous owner, like did he change the oil when he was supposed to? If the car has had regular oil changes with good oil, I would wait on the rings until you did some other testing. A compression check is a good one to start with.
When you say you think it will need rings, is that because it is blowing smoke? If so, what does the smoke color look like? Is it hard to start?
At 132k you are at the point that, if the engine is still solid, you can still get 100k plus out it for good daily driving. If you are planning to turbo it up, and it's a n/a, you might want to consider just going ahead and pulling the engine to get it rebuilt so it's ready for what you want to throw at it.
I think as stated above, it may be good for you to get everything up to spec as a n/a, and then improve it from there as a n/a. Doing the turbo bit is quite duable, but it is a bit of work. If you have an original 85 engine, you are going to need to learn to set timing, fix oil leaks, lock your cam, adjust valves, clutch cables, rebuild your injectors, improving intake and exhaust flow, making sure you dont burn your 5th gear and get pop out, find out about flywheel and clutch size, intermediate bearings, alt belt tension, triple square bits etc. All of which has a learning curve.
Getting the Bently is a good call. Always good to have solid reference material. Read here. Learn how to use the search function. Spend 5 times the amount you work on your car reading on this forum. Go slow before you go fast. All is well
