<VV> piston ring question

[Randy (Cap'n) Hook]

Upon disassembling the 54,000 mile 95 hp engine that came in my '65 500 coupe, everything in it was as it was supposed to be except for ONE broken piston ring.  Upon looking in my parts stash, I unearthed a single piston packet of 'Deves' piston rings.  Cast iron rings and standard size.  One cylinders' worth, except on the outside of the packet it said: NOT A COMPLETE SET.  When I opened it and looked inside I found the oil control ring and a compression ring.  This ring has TWO dots on one side of it.  Now, since I don't have the ring installation directons, my question is this:  The broken ring is the second (lower) one, so do the two dots mean that is what that ring is?   [Please say yes!  ( -:  ] ,   AND if so, do the two dots go up? 
Also, would you bother to hone that cylinder for just one ring?  The car ran like a "raped ape" even WITH the broken ring.  (for a 95, anyway.)         
Inquiring minds want to know!!!  Your input would be greatly appreciated.  Thanks in advance.

Randy (Cap'n) Hook
'69 Monza coupe, 110/pg
'65 500 coupe, 95/ (soon to be) 4spd