Howdy All:
Dissassembly is the only real answer to this mystery. And, yes, it was/is not uncommon to fix, ei, bore and replace any number of cylinders, as a cheap alternative. And, Yes, it will not be a well balanced engine.
The reason for not boring beyond .030" or .040" is related to cylinder wall rigidity and integrity. The thinner the walls, the more easily they are distorted due to torque and stress. As they distort they lose contact with the rings and/or become too tight. Distortion is caused by head bolts and torqueing, water pump tightening, Main bearing cap tightening and torqueing, heat and stress. What happens is a perfectly round cylinder, after boring and honing, becomes distorted from round to a some what square-ish shape as the four head bolts and other fasteners are torqued down.
This is critical when you realize that 80% of the power output in a 4 stroke engine occurs in the top 20% of the power stroke ("Torque Plates: Do you Need Them", Marlen Davis, Car Craft, March 2001).
So, what can you do?
*Only bore enough to achieve clean, true cylinders,
*Bore and hone with as many fasteners as possible in place and torqued to specs; bell housing, water pump, main caps, and most important, if at all possible, bore and hone with a torque plate and gasket. Torque plates are very expensive and few shops have one for our six. Don't be surprised or undaunted if you have to give up on this one.
And, be sure to use hardened washers on the head bolts on reassembly to help spread the load. Torqueing the head into place in timed stages may help to lessen distrotion. For example, torque the head to half of the final ft lbs and let it "set" for a few hours. Then add another 10 to 15 lbs and let it "set" over night if at all possible. Then loosen and tighten to specs each bolt in the proper sequence.
The farther you overbore past stock, the more important these details become.
Keep us posted on disassembly Paul. Every mystery needs a climax and solution. Thanks for sharing.
Adios, David