Kev. Consider going with a .030 oversize 312 piston which is the equivalent of an .080 oversize 292 piston. John Mummert offers a cast piston for a .030 overbore 312 which measures 3.830. The difference between the 292 and the 312 piston is in the piston skirt. The 312 skirt is slightly different to work with the longer stroke of the 312 crankshaft. John's part number for the cast .030 oversize 312 piston is CP-312. Per his web site, the price for the set of eight is $225.
John also offers complete rocker arm assemblies ready to install with 1.54:1 ratio rocker arms carrying the part number RA-1540-2-ADJ. Per his web site, the price for the two complete assemblies is $495. Keep in mind that rocker arms available as replacement units from other sources are 1.43:1 ratio.
Click the link below to see the complete price list for other components that John offers for sale.
http://www.ford-y-block.com/price_sheet.htmAs you get into this, you may want to consider purchasing one of the complete rebuild kits that John offers. It's a good way to get everything, obtain quality parts, and not have to hunt for miscellaneous things that many parts suppliers are not familiar with.
Call John's number to talk with him or his son, Geoff. Don't email John.
Hope this helps.
NoShortcuts
a.k.a. Charlie Brown
near Syracuse, New York