Hey BRC , nice utility you have there even if the motors a tad rough, it appears to have the high compression cylinder head if its original the muffler should be a pair with the cylinder head indicated by a hole in the end of the muffler where the exaust comes out.
the cylinder looks average but there is always the option of a rebore or secondhand barrel.
when you say you think the conrod big end bearing has failed it would be the first victa full crank ive ever seen fail like that photo's ? 9/10 times piston slap is caused by excessive play between the piston and the barrel.
cheers, mitch