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i'm no expert but i'll start off:
- it'll burn more oil as more oil makes it past the rings
- potential smoke on start-up as oil may seep past the rings into the combustion chamber while sitting
- if the piston gets really loose in there you might start to hear piston slap (you can youtube it to hear what it sounds like)
- if things get really bad something might break.
scoping the bore when doing your next spark plug change is probably the best way to see what, if anything, is going on in there.
so sayeth the armchair mechanic.
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