That should be a fine repair and if it goes sideways get another block. How are the cam bearings? If it's had chrome cylinders that shed chrome, it gets imbedded in the cam journals that can't be gotten out. It's hard and chews on the cam journals.You need a magnifier and strong light. I use a sharp three corner scraper to get out the big chunks and let the rest be. I'd take that into consideration for a different block.