Boring out your engine won't necessarily make it quicker.
You will need to ensure that things like porting, exhaust tuning, ignition timing and carburettor are all matched to the new engine size, if you are only interested in 'how fast can it go'.
Boring out the engine has the potential to make the engine produce more power, the rest is up to you. Another consideration is what you want the engine for, if it is to go round a track, then the performance gain may not be noticeable, if you don't have the ability to go any faster.
There's no point in getting a extra half second out of the engine if you lose a second by putting the wrong gearing on and kill the gain by losing a second by bad cornering technique. (EG: You alter the power curve so that the slow speed pick-up is worse, but don't adjust the gearing or cornering technique to match. As a result although you take the corner with the same revs as before, the engine takes longer to accelerate at the low end, and the improved performance at middle and top doesn't gain those losses back).
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