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I have worked on old equipment all my life,and I can't believe how well some of the old junk ran and lasted after honing things like that.You could easily put thousands of dollars in that engine,and find you don't even like to drive it.I might/might not pull that piston out and hone it.I would put eyes on it first.It's easy to spend somebody elses money over the internet.Honing that cylinder and running it might give you a smoker,but not a grenade.I'm not that lenient when it comes to babbit.I had to break the pistons out of a V4 Wisconsin,and I honed up the pits.I got a set of used pistons,worked them over with a piston stretcher,and put it all back together.It was supposed to be temporary fix,last I knew it had over 2000 hours on that patch job.It is in a Bobcat used as garage muscle and plowing snow.