For sure, if it's nipped I wouldn't use it in a racer.
My mate took a heap of used pistons and rings off me a while ago for his NSR. They were all toast as far as I was concerned, but he was happy to sand off the high spots and bung 'em in. When they got a tad too noisy (slap slap slap) he'd just bung another in.
Note to Fontyyy:
Don't worry mate, I'll save the next stash for you