0.120" on the thrust walls, 0.080" on the non-thrust walls, maybe even tolerate 0.075" on a non-thrust wall in a spot here and there, especially if those spots are in the lower portion of the cylinder thats not pounded by the exploding mixture.
Don't write a block off if it's thin, you can always sleeve all 8 cylinders, end up with a block thats more durable and makes more bhp.
When you have any block work done, find the guys who have the best CNC machines possible, and know how to use them. You want the cylinders "indexed", not just bored.
The more accurately a block is machined, the more durable it is, the less it beats itself up as it runs, the more power it makes. Money spent on accurate block & reciprocating assembly work is the best money you can spend on a motor that will be run hard. The difference in durability is significant.
cowboy from hell