Original bolt holes were at least 1/64" bigger than the 1/4" bolts.
I would drill them 8.5mm for 5/16" bolts.
My 2c..
This folklore of putting 5/16" bolts in to replace the 1/4" ones arose back when all the blocks were thin flange. I reckon it's a waste of time doing it with thick flange blocks, particularly for street use.
A 1380 thin flanged (1100S block) stroker I built a while back (with stock 1/4" bolts) still has NO leaks there.
Gasket sealants have improved in the last 30 years.
Don't believe
everything you read in Vizard's book.

[edit] My car's Mk2S box was drilled out when I got it (had a thin flange S motor on it with 5/16" bolts). It now has a 1360 (1300auto block) on it, but with 1/4" bolts in. It doesn't leak there, either.

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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.
