It's a completely simple doable job. And, yes I have done it successfully. Also master cylinders, brake slaves and calipers. Just work clean and if there is pitting, get it sleeved -- still way cheaper than a new one.
I've modified the old boat joke to describe my TR3: "A hole in the pavement where you throw money."
Long ago, a friend thought he might want to own a boat on San Francisco Bay. He expressed this desire to an acquaintance who did own such a boat. This guy told my friend that he should take the San Francisco Bay Boaters Test. "Turn the shower on, full cold, and enter it, wearing all of your clothes. Stand there for a while tearing up $100 bills. If you like that, you'll like owning a boat on San Francisco Bay."