I just went through a similar scenario with my 78 Dodge slant six. I was tempted to just hone and rering it. Bottom end was tight and had good oil pressure. When I took the pistions out there was an extensive taper worn into the cylindrers, and some had a ring gap that was far beyond the specs. I was told to rering and put it back together. I took it to a machine shop that mic'd the bores. He builds racing engines and gave me some options, but strongly recommended boring the cylinders. I had to go .030 over, have all new pistons, bearings, oilpump, cam bearings, chain, gear, dist drive and a trued head, 3 angle valve job. While I had it out I did all of the accessories (water, fuel pump, etc). It was more money than I wanted to spend, but even w only 300 miles on it it runs better than it ever has in the past 29 years. Having said that-it depends on what you want to do with the truck. All of my trucks are toys that sit in the garage until show season, but at 56 yrs of age I didn't want to be taking it out and apart in another 5 yrs. And wouldn't you know-as soon as I got the 78 together, the 52 1 ton burned the exhaust valve on #6! Soooooo-here we go again! You did a fine job for an ex English teacher-I know-I'm an ex instrumental music teacher! Mike