Allstate was a Sears & Roebuck brand name. They took low-bid contracts for huge quantities of rebuilt engines and sold them nationwide. It was not uncommon to find bore sizes and crankshaft undersizes that local rebuilders would not allow.

A 216 crankshaft with .050" undersize mains is only good for holding up somebody's mailbox, so you definitely need a crankshaft. The cylinders can go another .020" oversize without a problem, and maybe as far as an 80 overbore if you don't plan on rebuilding it more than once. Try to free up the stuck pistons without making any deep gouges in the cylinder walls or you might end up needing a couple of sleeves. At that point, the cost of machining would probably exceed the price of a better-condition block to start out on. you'll need reconditioned connecting rods to match the rod journal size of the replacement crankshaft, or have your rods bored to accept insert type bearings.
Jerry

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