I'm gonna partially side with Dave: If you are going to rebuild it, bench it for sure. If nothing else, you'll be able to hone it out and do a MUCH better visual inspection for pits, scores, etc. Doing it in-situ is a contortionist's nightmare, not to mention the absolute mess it makes. For the three lines, two bolts and a clevis pin to remove it, it'll SAVE time and aggro... and chances are good you'll find the pits and need a new one anyway.
If (here's where I deviate) the bore cleans up well, there's no reason to replace it with a new one. Caveat: This is not a job for experimentation though. If there's any doubt (remember: you're playing with brakes here... safety... FIRST), bin it and replace it. MUCH cheaper than replacing the bonnet later! /ubbthreads/images/graemlins/wink.gif