Cylinder hone or bore oversize?

OP, I believe that you are doing right by taking measurements. After you take the measurements, you can determine if an overbore is necessary. IMO, I wouldnt overbore unless I determined that it was required, as in the standard piston to bore clearance is excessive. To bore .030 over just because is a waste of the block. Save it for when it needs it. These engines can be rebuilt multiple times when being conservative, but the blocks can only be bored over so much. Again just my $.02