loss of pinch and wont hold a tune are 2 things that come to mind. As your sleeve wears it begins to allow fuel and air to flow around the piston head, causing excessive fuel usage and issues with keeping a tune. I've heard of guys running their mill way past the sleeve life, but I personally wouldn't. Easy way to see if your about due for a rebuild would be to pull your glow plug and rotate the engine by hand. you should feel some resistance as the piston gets to TDC (Top Dead Center) and hear a slight "pop" as it passes that point.
This is JMO, some of the more experienced guys may have some better examples.