I've never used delrin or rubber rings, usually aluminium 6082 and Vitron O rings.
For air running allow 0.001" per 1" diameter bore, I don't generally measure this but just go by feel. If made well this will allow you to run the engine slowly with no load on a couple of psi of air WITHOUT the ring, just put the ring in if you want to load the engine.
At the very least hone the bore but preferably lap it.
Edited By JasonB on 25/09/2018 18:36:23