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I don't see the advantage in doing something such as this unless you're going to be making very high HP numbers. In a nutshell, the machine shop would need to bore the main saddles and caps close to the finish diameter, then line hone the block. To do this right, you need to have the major parts bolted to the engine (head, main caps, girdle, etc) with the same fasteners that you plan to use. i.e. don't do a line hone with stock main bolts torqued to the stock spec, then install ARP main studs that are torqued to a much higher spec, you'll warp the main bore.
Also, in addition to the boring and honing, the machine shop will need to machine notches for the tangs in the bearings. Ideally, you'll need to get your hands on a 55mm main block and measure the main bore diameter. This might be in the Helms manual, but I'm not 100% sure. You won't be able to determine the diameter from the bearings.
Seems to me a more effective solution would be to either get the correct crank for the block, or get the correct block for the crank!
Also, in the meantime, make sure you store the crank correctly, or it WILL warp. Have the machine shop check it for runout prior to installation. I have one that I thought was good, but it turns out it has 15 tens of runout.
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