If the exhaust valves are literally "practically new" then you can reuse them. Say, 20K miles or less and they have a good margin left after grinding their faces. If they just look "practically new" or, you don't know their history, replace the exhaust valves.
Liners and pistons are matched sets, not by weight, by diameter. The clearances are in the manual. Use extra long feeler gauges to check the clearance between the liner and piston skirt 90° from the piston pin axis. Check them all and match the tightest bores with the "smallest" pistons and so on to maintain the correct clearance.
Balancing is always a good idea. Research on how to do it correctly. Rods are balanced by total weight and the weights of the respective big and little ends. Don't just grind/cut anywhere to remove weight.
After you have equalized all your components weights, then bring them, and the crankshaft, front pulley (if there is one), flywheel and clutch to a machine shop for dynamic balancing.