Generaly speaking, out of round by less than .001 is ok to resize accoring to those with experience....This would be for a street engine not seeing a lot of redlne rpm..There should also show no signs of overheating on the small end.
During the 1930's the UK metal industry made a big push for aluminum rods. There were industry ads suggestng use in aircraft engines. Besides some bikes, I don't believe aluminum rods were used in any other engine. The fatigue factor of alloy rods was not an issue when the bikes were produced. Just buy new ones when needed...
when I found three sets of rods suffering from the same fault, I figured the majoriy are the same..I bought new aftermarket rods ,$450.....A lot of money but a broken rod at 6000 rpm is alot more expensive. And with my luck, the thrown rod locks the rear wheel, the bike goes down and crashes into a group of Girl Scouts..