Cujo8, I would follow Chiphead's lead on this one- he's been there and back again (even has the T-shirt and ball cap)- To trust a local machine shop to "line bore" is one thing but for "align bore" you are talking somethin out of their reach. If you had a rare engine that couldn't be replaced there are a couple of ways to go- get a cast made of you orignal bearing cap and have it brought back to specs- send the whole nine yards to the place in Washington (My wife Sleeper55 found it) and have them repair the faulty cap and restore it to new condition. Either way is mega dollars and it is much simplier to get another 235/261. You could try to weld(?) the cap or use another one but that wouldn't be advisible because it will probably cost you "ALOT" more in the long run. It's a bummer I know, but the best advice is to listen to what Chiphead has to say about it.
Oly in Oregon
Rest in Peace1945 GMC COE Victory Truck
1953 Willys CJ3B
1955 Chevy 1st series 3/4-ton
1958 WIFE Last series
Never say "Whoa" in a mud hole