Now would be the time to take a rough bore measurement since many of the blocks this old are on their second or third life. Stock bore is 4.120".
If you can, find a shop that will "shake-and-bake" the block for cleaning. This entails the block being heated up to around 450° and then tumbled in steel shot to get it squeaky clean. I use a particular shop just for this cleaning process and magnafluxing, and then use another for the actual machine work. We have a shop locally that has the old fashion hot tank still in business from the 50's and while I admire the effort it took to keep it active with all of our state's EPA insanity, it still doesn't produce the results of baking a block to rid it of paint, grease, and calcium buildup. The crank photo I pictured above was with the old hot tank method and even after an additional hour or so of cleaning after I got it home there is still rust and paint on the block. Here is a photo of a block back from the shake-and-bake but prior to my scrubbing it down. It sat out in someone's back yard for years before I rescued it and had its fair share of rust and gunk.
View attachment 161145
Pull out all the gallery plugs if you can or pay the shop to do it before the cleaning process and also have them remove the cam bearings. Unless you have the proper tool, don't hammer them out - very easy to damage the block by chisel gouges. If it passes magnafluxing, then have the shop pull all your main cap dowel pins. Those remaining in your block have been driven down almost flush and need to come out. Shops have a special tool as long as there is enough sticking up to get the tool to bite into the dowel, otherwise they will weld on a bolt to the dowel to get pull out.