The problem with "might as well" is where do you draw the line? And what else does going oversize involve?
Pistons and rings at least. Only the pistons actually add to the cost, since you're getting rings anyway. Boring is probably $90 a hole said and done, with honing, tax and tags.
What happens is often a big bore kit may be cheaper than OS OEMs. The lure ... There are these 836cc kits out there for $110, piston rings and a gasket (I think). But that might push the boring up.
Honing by itself is maybe $20 hole. Some machinists may not want to hone your rust though. But you could hone it yourelf., hmmm...
How appealing is a rat motor to you anyway...
Some of them run pretty good.