Hi guys, I've been a lurker for a while.  I've got a very solid 62 galaxie with original 292 with 58000 miles on it.  It runs ok but the engine is pretty dirty-compression is 130-140, smokes a little.  I've only driven it a couple of hundred miles since I've gotten it-been doing a little body repair.  I pulled the heads and the oil pan.  My airplane mechanic brother-in-law measured the bore wear with pistons in and it averages .006 over.  We plastiguaged the crank-the rods were ok mains are just a little over tolerance.  What I'd like to do is just hone & rering the engine in the frame (I've pulled front clip off) with new std. bearings, timing chain, etc. I'll take heads & get valve job & hardened valve seats installed and clean the engine as best I can.  This will be an all stock occasional driver rarely exceeding 3500 rpm.  My brother-in-law says bore it-full rebuild.  Not only would machining and parts cost more, but I'll have to rent something to pull engine, buy an engine stand, and take a lot longer.  I just have an attached 2 car garage.  What do y'all think?  If I just rering it should I use moly or cast iron rings?