Will this bore clean up, magnum head content too.

No hate here, you are right. A ball hone if possible and let her rip. No it is not perfect, but should get a few more years out of it.

I would at the very least take that piston out, clean it up, and make sure the rings aren't stuck.

Right! What do people think when one sits up a while? That the cylinders are somehow protected? Naw, ain't happenin. lol Might not as bad as what he has here, but before I spent big money on it boring and sleeving, I'd try it.