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To really noticed any difference you have to do more than bore it out.
You have to make the thing breath properly by adding an Offenhauser, Fenton or Edelbrock Intake Manifold, a Header w/ 2 or 4 Bbl., Tri Pack or a Double Duce Carb. set up, B&B, P&P, Larger Valves & Stronger Springs, Roller Rockers, etc.
Cheers
Colonel Flashman
Red '58 Mercury M-100 built 300 I-6 (400 FPT & 300 HP w/ 10:1 CR) HP C-4
Blue '58 Mercury M-100 Panel Truck
You're really not going to gain much at all by boring it out .030". If you can get away with not boring it at all, I'd do that. If not, go with the smallest you can (.020" pistons are availible). What will help this motor out more is what Col Flashman suggested.
Edwin
yeah, you've already got a lot of bore out in this motor. I was reading some posts earlier about this. I think that they were suggesting in those posts that 40 over was all the more they'd ever do, and that if you go much more than that, you risk doing a lot of damage to the motor through overheating it. They may have meant that you get into the cooling jackets. You've already effectively got all the boring and stroking done to the block that you can do from the factory.
my mods that i have planned thus far are as follows, from top to bottom of engine...
k&n air filter, holley 390 4bbl, offy DP intake, EFI manifolds, 2 1/4" true dual exhaust into 40 series flows, mild port/polish on the head, shave the head to true it up, larger (small block chevy) valves, deck the block by about .010 after having it trued up, hoping for a good clean-up at .030 over on the cyls (they're already .020 over cuz it's a remanned block), crane 260/272 duration cam, steel timing gears, hydraulic lifters, polish crank, all new accessories (fuel pump, water pump, alt., etc), DSII ignition, dual batteries (gonna have some onboard goodies...hehehe)...ummmm....can't think of anything else at the moment....but it's a pretty good list, overall....gonna run some pennies really good...