It can be done but it will take some extra work to get it right. IDI's are not very forgiving if put together wrong.
With a decking and boring job, The block and rotating assembly will probably be fine.
As for the heads, that's where some complications could arise depending on how much you trim from the block surface. These engines have very close running tolerance and any surfacing done to the head or block can throw this off, potentially resulting in piston to valve collision.
The way around this is to either trim the valve stems to reduce valve lift, or go with decompressed pistons.
Trimming the valve lift will eat up some power. How much is hard to say. If all you take off is 10-15 thou, it may not be noticeable.
Decompressed pistons are available for non-turbo IDI's. Not sure about the turbo pistons though (larger wrist pins).
There may also be a third option available. Shim the head with a gasket spacer. This is relatively new for the IDI, and I don't know if anyone here has tried it yet.
And lastly, the intake manifold may also not seal up very well if too much surface is taken off the block and heads.
Next time, spray some WD-40, FluidFilm, or any kind of penetrating/preservative oil before wrapping it in plastic. Small effort will save you more trouble down the line.