Well, it's all torn down and reduced to a pile of parts now.
Looks like someone has been into this motor before. Pistons are +.030, and someone went ballistic with the silicon sealer. It was everywhere. It had an aftermarket cam in it as well (Viking 100H). The good news is that there is no perceptible wear in the cylinders and the pistons look good. I think I can get away with a hone and rering. I do plan on hot tanking and replacing ALL the bearings though.
I think since this is by no means a stock engine any more, I will continue this thread in the HiPo forum. Thanks for all the help and suggestions so far.