Straight cuts take some of the side load off the crank thay oem helical gears cause. Asphalt racers usually use the smaller ratio so they don't need as big of front sprocket.
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32 to 1 on oil is a good common use if ya went 4 mill youd want it ported and domes cut best to talk to a engine builder to get the answers ya looking for.
wildcard does good crank work. no worth sleeving just post a wanted ad for some stock cyls and you can get some cheaper then a sleeve and more reliable
i had around 130 and my crank started to let go. they can let go on any motor better to have extra insurance but being a hot rods it should of somewhat of a weld but there not that good from what i hear i had mine welded just to be safe
ya this green is real ugly till they go over it with clear. they had some stuff done in it when i dropped it off and still looked good plus i dont have a garage so no worries there