Hi, Not only should you check the bore at the top but it should also be checked with a Bore Gauge or telescoping gauge for "out-of roundness" and straightness. Measure the bore at 3 or 4 different levels at 0, 45, 90 and 135 degrees from the crankshaft. Cylinders tend to wear on the sides about halfway down the bore from the side load of the pistons. If the bore is bigger in the middle or out of round a new set of rings will not seat very well. Most good auto parts stores will have a bore gauge that you can rent or borrow (not so much with the big "chain" stores such as Auto Zone or Pep Boys, they only want to sell you parts and floor mats).
A typical spring-type hone or "dingle ball" hone will only break the glaze and finish the surface. A good "micrometer adjustable hone" will actually true up the bore and make it straight & round again if used properly.
3.764" is 14 thousandths over 3-3/4", not 1-1/2 thousandths ( .014" is almost 1/64", 1/64" = .015625").
Good Luck, and c'mon back if you have any more questions
'46 Willys CJ2A Farm Jeep, '49 International KB-7, '31 Allis Chalmers U, Cushman Scooter(s)
Antique garden tractors & outboard motors
Other rusty old junk comes & goes without warning.
The 2 most useful tools to have in your shop are a Crystal Ball and a Magic Wand