318 LA rebuild after losing a valve seat

Even online there are some that say .0015 is less than ideal for a street engine. Others say .003 for the racing community is OK as they are using the high volume oil pumps to feed them efficiently.

Sure there are lots of opinions on this.
.002 ths. clearance would be my choice for a basic street engine
FWIW.... I've raced hard and long (rallying, with sustained high RPM's) with rod bearing clearances around .0015". Nary an issue. Ima thinkin' that is the least of the OP's worries....

And I agree 100% on the rod distortion.