Bit of an old thread but I didn't want to start a new one if I didn't need to.
The slots in side of piston are very unusual, normally it's to lighten piston as the transfer ports are fed from the bottom and discharge over the top. It may be to limit crankcase compression and max rpm possible? (plus much lower power output?)
For a single piston modification the faceplate method works well but if you have a set (usually 4 or more) making the piston holder with locating diameter is much faster to set up (I'm doing at least 8 and possibly 12 Honda CB750 motorcycle pistons to fit into CB550 giving a 591cc motor) There is only one critical dimension and that is the locating spigot, the rest can be roughed out.
There is a machined section inside skirt plus all are machined to a fixed inside diameter (evenwhen oversized on outside diameter)I will be doing multiple operations including cutting new valve pockets so te holder is 'double ended' the opposite end will be machined to fit piston crown. I'll post more pics or start a new thread if there is interest?
Couple of pictures