As 1930artdeco says, you will need to have the block line bored to accept the inserts and provide a place to put the thrust crescent for end thrust. I definitely WOULD NOT make any alterations to the rear oil slinger arrangement. I have an engine with the modern style oil seal and it leaks a bucket full. I only did it because the slinger was damaged but never again. A similar engine with the original arrangement only leaves a few drops after a long run. It has an enlarged return tube from the bearing cap.
Fitting an oil filter is a VERY good idea too with inserts.