Just thinking out loud , is the timing gear on the camshaft keyed on or is it pressed on ? I wonder if the cam timing has been checked . Worked on an M.A.N Diesel truck motor that had a pressed on gear , had the same kind of symptoms . The gear slipped 5 degrees on the shaft and killed the engine , can't remeber if it was belching black or white smoke . Soundguy// . I have a "Wirth" ridge remover that works a treat but i was meaning if it has a large lip in the the bore it will indicate it's too far oversize for a re ring as it will make the new ring gaps to wide . Which will prevent compression coming up too specs . It's about a hundred years since i knew this stuff well but 3thou per inch of bore is ideal , would that be correct ?