1970 Cyl's

I have a 2.2T engine that i am currently rebuilding w/ some performace in mind(dual webers, valve job, aggressive cams).
Right now i have my cylinders and pistons at a machine shop and they have been checked for tolorances as they are 30 years old. The machinist says that there is .004" of wear in the cylinders and that to just replace the rings would leave excess "slop" in the rings and cause premature wear. He also said that there is wear on 4 of the pistons (skirts mainly).
My questions are: Is .004" even significant?
If so... Should i bore out the cyl's and put new oversized pistons and rings? or should i get new cyl's and new rings? I am on a semi-tight budget... which one of these options should i choose? thanx

Patrick 1970 2.2L 911T

.08 mm is the spec acording to the work shop manual. According to my calculations that works out to be .002". So if my calculations are correct your mechanic seems to be correct.

[This message has been edited by mackgoo (edited 08-04-2000).]