I would short block it. I have done dozens. I have even got warranty from cub cadet after warranty ran out. They bought the short block for my customers, They paid labor.
It was a common thing on early bucket engines, but has been repaired. The bolts for the oil pan at the cooling fins are blind holes, the bolts bottom in holes and then come would loose. Some would hit the flywheel. Four bolts would come loose and then the block would crack mostly down the starter side from vibration. To make the story short, they made the holes deeper. This also happen to LT1042 or any tractor with what I call The BUCKET Engine.