After 3 1/2 hours we have the engine out ( we already had the head and stuff off )
Now, we have to find out if the scratch on cyl. #2 is to deep to hone out and use a .50mm oversized ring on it... If we can't, I duno what we'll do? I was thinking of a aluminum flywheel, how much do those run? How much more HP do you get from those?

 

Flywheels don't add HP, they "store" it. More mass (weight) stores more HP as inertia, and will decrease acceleration and deceleration. Less mass (aluminum etc.) steals less power to accelerate, but gives up momentum which makes the car feel better (read; smooth). All this is most felt in neutural, in motion the 3000 pound car is the bulk of the load, and the flywheel becomes trivial. This mod is best saved for the track where a fraction of a percent is a worthwhile gain.
Just my .02, I'll defer to anyone with a better grasp of physics, and we have quite a few here.