The key is that after the .050" overbore, the displacement must STILL be in the original displacement class. So if you were at 749cc before the overbore and as a result of the bore you are now at 751cc, that puts your engine out of it's original class and therefore you can't run in the Production Classic.
Nor can you jump up in displacement class to the 1000cc class, as that would not be the original production displacement.
I was denied a record in the 750 class because mere wear on the cylinders put the displacement over 750cc. No overbore at all, just lots of wear on a 30 year old bike.
Don