It seems to me that most of the welded/heated metal was left on the piston pin and that could be the biggest problem.
Yes, that metal that was friction-welded onto the pin had to come from the bore of the rod. Even in a best case where any high spots have been polished from the bore, the missing metal means that 1/4 or more of the load bearing surface has been lost, and no reaming, honing, or polishing will replace it. If you have already invested in new pistons and rings, why take a chance on a rod known to be compromised?
