I have an old as dirt Clark forklift with a military spec Continental F209 / F6209 that I had to pull to fix a broken distributor drive gear and while I have it out figured I might freshen her up a bit. Pistons and rings for the F209 ( 3 3/16" bore ) are scarce yet the 226 parts ( 3 5/16" bore ) are common since they used it in the Willys. Are the cylinder walls thick enough to survive a 0.125 overbore? It sure looks to be the case but these damn engines are worth $1000 as a boat anchor so I don't want to ruin the block. Or should I just ridge ream, hone and re-ring...
Have no knowledge of these engines but your bore option sounds like the common Ford V-8 hot rod trick. Is there any way you can inspect down in the water jacket to see if there is corrosion in the cylinder walls? Do you know any body who can ultrasonically test them?
Unless you you use the forklift more than a few hours a week re-ring it . Kinda doubt that it would safely bore .125 after all these years. One pinhole would spoil your day.