That's not to bad for a very tired worn motor. Even a quart per thousand miles, it's still a runner. I'll usually give up on them when they're getting to the point they're oil fouling plugs. But, I've never really gotten to that. Like you, you're aware the motor is tired and you're already looking for another option and it'll be handled before it gets that bad.
Other than that, I've broke a ring in a motor before, and I've broke a piston in a motor before. That's the worst that's happened to the motors I've built. Nothing Catastrophic. The one that broke the piston, broke it above the wristpin, so the skirt kept the rod centered in the cylinder and didn't hurt it a bit. The broken ring, did put a shallow score in the cylinder. I honed it, and ran it. Just like new again.