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rick lake has good advice, but i wouldn't bore the block anymore. i had a wall blow out on a .060 over block and it is known not to bore the production blocks this amount although a sonic test may tell otherwise, so you plays your games and you takes your chances. definitely fix your oiling problems.
i would look into a shortblock.
p.s. when a cylinder wall blows out you pretty much through the short block away, everything is trashed.
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