Hi,

When I grew up, in the machining world of the sixties, I heard of this process being done in the automotive sector. I have never seen it done, so, the link quickly explains my thinking for you.

https://www.youtube.com/watch?v=4uzZYPIGbZE

I have done this process to some valve guides of my 1974 360 CID Ford Engine at 19,000 miles.
The pickup had just left it’s warranty at 12,000 miles despite numerous other warranty filings on engine performance. This was the early years of smog controls! Mechanics just waved their hands in the air!
I was shocked when I got a letter stating Ford would recognized the issue. This was about two years after.
They would only warrant the parts though and not any labor cost.

I did both of the heads rework because the heads were not torqued down properly from the factory. The subsequent coolant loss steam cleaned the valves and one cylinder piston and it clacked as it aged more.
They would only warrant the parts though and not labor.
I still have the truck and I managed carefully to get 180,000 on it before it threw a timing chain.
I have kept it because my wife put the down payment on it and she won’t let me sell it.
I parked it 15 years ago on jack stands! I hate it!
Consequently, I have not owned another Ford product!
Volvos have convinced me that I could have done so much better in 1978 with my GT!

Anyway, the procedure might give you back an engine with less piston slap.
Your lucky in that it’s a low compression engine and that in itself can make it a viable option.
The trick is finding the person with the skills or that machinery.
You are looking at hand fitting them to each cylinder anyway!
That’s what the factory did, really well, as we know!

The cylinders you are measuring cannot be honed round.
It’s a process for final sizing and for the crosshatch finish to help seat the piston rings.
Boring them is the only process to make them round.

I’m sure they will show them being slightly oval with that many miles on the block.
I hope you are using a “dial bore gauge” instrument to check the full length of those cylinders in both directions.

Read up and pick your final outcome wisely!

Phil