87 lt 500 engine questions

[special k]

We just picked up a 87 lt 500 cheap with no compression or spark but the rest is in good shape. The quad looks basically stock except for a FMF pipe and silencer. The kid had been fooling around with the timing [we think] and burned a hole in the piston. Anyways the piston is like brand new and so is the bore. It's a Wiseco piston that measures 3.512" and the bore is 3.527" so it had like 15 thou clearance. Wiseco offers one more oversize that is 3.517". Is there any other optiions available to us rather than resleeving? We're are just going to dirt track it a little bit for fun in the summer and I'd rather spend a boatload of money on it until we find out if it's remotely competitive or not. This is our first LT so is there any thing else to upgrade while the motor's apart? Any info would be greatly appreciated. Steve