I've bored 3 of these blocks to 68mm for Imp pistons over the years.
1100 crank is fine if kept below 7000, but crack test before you fit it. It is not the weakest of all Mini cranks- that accolade goes to the early `thin tail' 850 ones.
Forget the JP pistons. I would try for Imp pistons in NZ or UK. More of 'em still running there...
If you fit Imp pistons I would use Teflon buttons instead of Imp circlips- which break in a Mini at high rpm...
Put the pistons around the right way- gudgeon pins are offset. Valve cutouts go to RH side looking from fan end of motor.
Taking 0.140" off the block is no problem, just watch the clearance between the front of head and top of the water pump (if running a 940 head). Grind pump away a bit if you have to.
You do need to offset the bores as it says in Vizard's book. Don't be surprised if you break into #4 cylinder bore. If that happens you need to sleeve the oilway with a steel bush, then relieve it where it comes into the bore.

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DrMini- 1970 wasaMatic 1360, Mk1S crank, 86.6HP (ATW) =~125 @ crank, 45 Dellorto (38 chokes), RE282 sprint cam, 1.5 rockers, 11.0:1 C/R.
