'52motorhead,
I evidently didn't read the post well enough. I agree with you. If it is already .080 over and now has scored cylinders, it sounds terminal.
Blacksmithdon,
I don't think your question has an true answer...sort of like the apples and oranges deal. If one were to tell you there would be little difference, would you leave the 261 in?
There is probably a 'right' answer, but it isn't in the comparison between a worn out engine and a engine of unknown condition.
Stuart