Take a look at these photos of another tear down... I have never seen cylinder wall so bad, and #4 has two long gouges in it???? ouch! I thought I would be able salvage the crank and rods out of this one... now I am not so sure. I'm gonna need a jackhammer to get those pistons outta there!
70% of original size (was 721x19) - Click to enlarge
70% of original size (was 721x19) - Click to enlarge
This block was never "baptized" as far as I know, but it surely looks like a lot of water got in there. Odd thing is, there was no water in the oil pan when I drained the oil, but there was water coming out of the oil filter housing when I loosened the bolt.
1955 ECG 272
Neglected and Abused....
Daniel JessupLancaster, California
aka "The Hot Rod Reverend" 
check out the 1955 Ford Fairlane build at www.hotrodreverend.com