it would work well only if you do two things. 1) sleeve the block to make it stronger as you will be making the cylinder walls smaller. 2) Turbo it with the b20b pistons as they are lower compression (like 8.5:1 I believe). You should be able to turn the boost up pretty high with this setup. Otherwise you could sleve it and go NA in which case you'll need aftermarket pistons. Either way it has to be sleeved when boring it out. This is the main drawback to honda motors .
Chase- one other option is to just go with a .5mm overbore. Honda manufactures all their pistons at stock sizes, and then .5mm larger in diameter... all for the purpose of what you're doing now. If you just want to preserve the engine/sleeve by boring and rehoning, go to 81.5mm and use another set of OEM pistons.