You may want to get a copy of the current 12 Port News, it has the article on stroking the 261 using 292 rods and Caddy pistons. Shouldn't cost much more to do than a stock rebuild, since it involves about the same amount of work.
Do not try to modify the ends of the 235 rods. It MIGHT be possible to bush down the pistons, but I don't think I would recommend it. Talk to an experienced machine shop. Considering the availability of the 292 rods compared to the 261, I would build the stroker version.