Without the cylinder walls being smooth and the bore being round getting rings to seat, and not fog the local mosquito population will be about impossible. But those old L head engines would take a lot of abuse sometimes. If you want to play around with it as see what happens it may be a good learning experience. Worse case situation the engine goes boom. Either way it will be a learning experience. I learned to work on lawnmower engines basically doing the same types of things you are thinking about.