318 with 3.97 cylinder bore after clean up

If your pistons were an old set of TRW forged pistons you could probably get by with it since those needed about .006" clearance, but I honestly think you're wasting your time
trying to put stock cast pistons in a hole that's .007" over and 0055" to large for proper clearance. If you try it you'll probably have massive blowby and pistons slapping in the bore.

Tom