If you're an engine man, you can do this one just like any other.
The sleeves are dry sleeves and are done by a machine shop. They bore to the OD of the sleeve and drive in the sleeve or something like that. They are not typically done for a typical engine overhaul. They are available in case something ruins a cylinder. In an engine overhaul, the cylinders are bored and oversized pistons are used.
The crankshaft is induction hardened and rarely needs turning at overhaul time. However, if you do have a serious bottom end problem, you may have to pay attention to the crankshaft.
The parts for overhaul are EXPENSIVE, however, if done right and maintained right, you will end up with an engine that will hang in there for many years to come.
Check with the PartsShop on this site to get an idea what it will cost for overhaul parts.
'84 Euro 240D, 516K miles
'88 300E 5 Speed
Over 800,000 miles in