Welcome, It sounds like your grandfather was bent on making an inliner out of you. I thank him for that. I wouldn't chose to start an engine project with a cracked block. If I already had a built one that cracked I might try to repair it. I've seen a couple of articles on crack repair that seemed to fix some blocks,Ford flatheads, that I would have tossed. If your cracks are to the outside and wouldn't leak into the oil it may be worth a try. How hard are 292s to come by there? Good luck, Beater