Whoops, that crankpin and the connecting rod bore both look nasty - seems like it's run dry at some point in its history. I've thrown away better crankshafts. Here is one I stopped using because the crankpin is worn nearly but not quite to the service limit (nominal diameter is 1.024", minimum allowed is 1.020", this one is 1.0206", and the engine had an audible knock at idle only):
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Note also in that picture, my spare camshaft (from a self-propelled GXV120) has no ID marks at all.

You have steel rail oil rings, which is good. In an iron bore, they generally last considerably longer than cast iron ones.

To measure your bore diameter accurately, you can't just use a sliding caliper, because that only measures the diameter of the ridge above where the top piston ring comes to at the top of the stroke, so it doesn't show any wear at all. To get an accurate bore diameter you need to use this:
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It comes as part of this set:
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You probably don't want to buy that, it's expensive, so you can get an approximate measurement by using this inside caliper and transferring the diameter to your sliding caliper:
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If you can't borrow one of those, you could just measure the ring gaps and we can try to guess what is going on from that.

Essentially, GXVs that have been serviced properly and terminated when they started to blow smoke, have 0.002-0.003" of bore wear. If they have fallen into the hands of people who want to run them into the ground despite the smoke, they may have very much more wear because it becomes impractical to keep oil in them, and they end up swarf-lubricated (well, hopefully the swarf layer in the sump is kept slightly wet with oil, to keep them from seizing up). The crankshaft in my picture came out of such an engine - hence the crankpin wear. It also had 0.007" of bore wear. I don't think your engine has had that kind of experience, or the piston would be scuffed - I think yours was just run dry once, then cleaned out and filled with oil.