Even 500 hours is too often. As said above, if the compression is good, why do that? Lower compression is not going to kill a saw. New rings and pistons will also not save them from being abused, run lean, rich or straight gassed either. As for the oil, or gas, or tuning rich or whatever with this 362, the OP's saw is the exception, not the rule. Though around here where I live most loggers buy new saws every year, after they run the holy snot out of them. Not unlike the OP who admits to having run the crap out of the 362 in question. I avoid buying those saws, as they usually have new bearings, AM replacement engines, they look or run like crap, and/or other stuff is wrong with them. They are beaters.
Also no need to throw out a blown saw. Put in a new top end, new bearings, or whatever, or get a new top end and send them to a builder to be cleaned up and ported. In the rare case, I have had to part out saws on Ebay, but the parts are usually worth more than a whole used saw. Once fixed, ported or rebuilt, run the saw some more. Just today a guy here on AS got a blown 460 for $50 that will be an easy rebuild. All it needs is a new piston and rings; the cylinder can be salvaged. I like to buy low hour straight gassed saws and put new OEM P&Cs in them. They run just like new saws, and cost half as much.