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Machined internal engine parts are more precise than the parts of 20 years ago.
Just as a point of interest- Precision machining has been around since the dawn of the industrial revolution, repeatable manufacturing techniques were necessitated by the desire for interchangable parts for rifles; precision to the 1/1000 of an inch were not unheard of [think gun slide] Precision parts were made 150 years ago, it is the ABILITY TO REPEAT THE ACCURACY that has improved.