Valve guides is a common part of the head rebuild. No biggie there, but you might want to snoop around a little more before you yank the head off and send it to the machine shop. You can buy a leakdown tester or just adapt and pump compressed air into the spark plug hole with the cylinder in question at TDC on compression stroke. Then air will escape either through the exhaust valve, intake valve, rings, or head gasket. Look up the instructions for a leakdown test for more detail. If you want to try and fix this without pulling the motor, you need to verify the bottom end. My guess is that you need more than just a head rebuild, but you never know.
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