273 Boring

I'm sure it has been done many times...does going .040 (max limit) over on the 273's bore (I believe gives you a 286) give you any significant boost in performance? Does the .040 over bore, require a larger piston or a larger ring application. I've got a good block that is measuring at the standard bore of 3.63 in. This engine is a (1965) 180hp 2 barrel. I want to kick it up to a Commando equivalent. Comments and suggestion?
Norm