You could hone for moly rings and re-ring with file fit rings, but you need to remove any ridge at the top of the bore.
Cutting the heads .050" is good to hit your target compreesion range, but I would also spend the bucks to mill the heads intake face Area .025" so you do not have a pain in the ass bolting down the intake manifold.
If those heads have pressed in rocker studs you at least get them pinned, and keep your total valve lift to under .480" with the stock installed height valve springs, and thats another thing, the valve springs need to go as I can bet you and win everytime that they are far below the minium pressure needed of 110 lbs.
Air flow is everything to a big cid motor like that and any porting you can do to those heads will help,the exh side of those 4X heads really need it!
Just do the porting before you get the valve job done, that way if you slip with the grinder and nick a valve seat it will not be a issue.
Also even though you are on a budget get a valve job done and any guides and or valves replaced that need it, also go for the 10 buck price tag of new valve keepers, Their is no worest feeling than killing a good running motor due to a failed stock 4 cent valve keeper!
keep the peak rev`s with the stock rods to 5400, and any constant reving to 4500 and the motor should live long life!
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Wernher Von Braun warned before his retirement from NASA back in 1972, that the next world war would be against the ETs!
And he was not talking about 1/8 or 1/4 mile ETs!
1) 1940s 100% silver 4 cup tea server set.
Two dry rotted 14 x 10 Micky Thompson slicks.
1) un-mailed in gift coupon from a 1972 box of corn flakes.
Two pairs of brown leather flip flops, never seen more then 2 mph.
Education is what your left with once you forget things!
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