Thanks guys. I wiped down the bores good with some carb cleaner and the cross hatch isn't near as prominent as it appeared when slathered in oil. And you're right, the ring lands are all gooed up with carbon. I'm thinking new cast rings and a swipe with a de-glazing stone will work wonders.
I've already installed the stock 250 from the 1971 Nova in the '46. What a good-running little engine! And as near as I can tell, quite a bit stronger than the 105hp, 1974 smog motor it replaced.
Since all the slugs are out of this 2nd engine I think I very well may go the 307 piston route. Who knows about the "RV cam" that is claimed to be in there now. I'll pull it out and see if I can find any grind numbers to be sure. If not, I'll give Comp Cams a call and see what they have. Figure 10:1 compression, a slightly lumpy cam, a little 390 Holly on the Offenhauser 4-barrel intake and a set of headers or the 292 exhaust manifold that came with the engine and I'd have a sweet little street rod motor! Well, once we get some squeeze back in the cylinders anyway. LOL