If you're going to have to replace the crank, split the case, and redo or replace most of the cylinders, now is as good a time as any to pursue the overhaul.
Lycoming has always had issues with crankshaft spalling and excess wear. Mic it as you will, but you're probably going to be replacing it.
Cylinders may not need to be replaced, but for what you'll spend redoing guides and regrinding valve faces, etc, you may as well replace the cylinders with overhauled or new. To say nothing of the downtime, and the availability of facilities wherever you may be. If you are going to have your own redone, I suggest you find someone who can do a five angle regrind. That's not easy to do , but it will be the end of your valve wear.
Remember that TBO doesn't mean the time you can expect; it means a recommended overhaul time, and doesn't apply after the first run, owing to the quality and variety of overhauls. Remember too that an overhaul doesn't mean a rebuild; it means an inspection to determine if the parts are within tolerance. An engine may be overhauled with no replaced parts, if the parts are found to be in tolerance. With that in mind, I'd suggest you do it right and bring everything up to new tolerances, rather than keeping what's legal to keep. That may mean a number of new parts and more expense, but so be it.
Even though the engine has been producing power, it may very well need a full overhaul, and it may be the most cost effective thing for you to do if the case needs to be split and most of the cylinders replaced anyway.
I had to open up an engine a few years ago in which a quarter of a million dollars worth of hot section work had been done. The previous director of maintenance had decided not to go to the minimal extra expense of doing a hot section inspection on the engines while they were apart. When the owner found out that he had spent that kind of money, and had the engine open where the inspection could have been performed, he went ballistic. It resulted in the shutdown of the flght department, sale of the airplane, and the loss of everyone's jobs. So much more cost effective to do it right at the time when you're already spending the money anyway, piston or turbine.