A .005 inch clearance would be more suited for forged aluminum pistons. Cast aluminum pistons should be closer to .0025" to .003" clearance for best longevity. This is why most folks bore the cylinders close but just under minimum clearance for piston skirt size then power hone the bores to the correct fit. The pistons should be in hand prior to any boring or sizing.
The .005" clearance may work OK for a while but the engine may end up with premature piston slap. This could be problematic if the bores need further honing due to light corrosion or something of that nature.
United Engine and Machine Co is still around. Here is a link:
https://uempistons.com/