OK- - - -progress! I've got a set of 292 connecting rods in the process of being modified. I made some spacers to increase the width of the rod caps to match the width of a 235 connecting rod (1.240"). Two rod caps were bolted together, and I made a holding jig to keep the thrust washers in place while a local welder made several short passes with a TIG machine to attach the thrust washers to both rod caps. Then a milling attachment and a slitting saw on my lathe cuts them apart, resulting in six rod caps that will stay centered on the 235 connecting rod journals. No thrust face will be needed on the upper part of the rod, and I'll recondition and weight-match the rods before reassembling the engine.
A set of standard-bore 235 pistons in the 216 block, and a 235 crankshaft with a stroke change to 3 7/8" to keep the pistons from sticking out of the top of the block will result in a displacement of 231 cubic inches, a connecting rod journal size of 2.100" (same as a 350 V8), and oil pressure to the connecting rods from a drilled crankshaft. This engine should cruise all day at 4K+ RPM and allow guys with a stock-appearing "216" engine to keep up with traffic!
Jerry