Just a quick update.
My buddy and I tore into the jet a few weeks ago. Everything looks really good. Will need a new water pump impeller and we will go ahead and replace the water pump along with it. One of the piston heads has a crack in it, which we knew prior to purchasing. What is weird is that one of the clyinders is bored out .20 but the other is not. I'm guessing someone half-@$$#% a rebuild previously? We are also guessing that this is what caused the piston failure? I would think having one cylinder .20 larger would cause come compression or balance issues. I've talked to a few motor guys who suggested this caused a head gasket failure allowing water in and the motor hydrolocked which cracked the piston. Makes sense I guess.
Either way, everything else is in pretty darn good shape. No signs of overheating or excessive wear. The front right side of the leading edge of the jet foot is broken off. Just the corner piece, if that makes sense, doesn't go back to the itake grates. Will she run ok like this? Another questions I have is there is a slight bit of play with the drive shaft. I think I remember reading this is normal, but I'd like to confirm.
Power head goes to my buddies motor guy this weak for a cylinder boring. He is going to bore both out to .30 over. Then the rebuild can begin. I'll be sure to let you all know how it goes.
Thanks again for all the help!!!