Nice write up and pics over there. I'm not a member but can access your review. The 34 of this era does look like a meaty HW80 rival but earlier and later versions are slimmer and lighter. More manageable than an HW95 in my view.
If the 34SM balances well with the moderator then a smaller, slimmer replacement will have to be heavier than it looks.
I have seen 34 pistons, drilled as you describe but not on recent versions. Older would seem to be better as far as these go.