I suggest when you get this re-sleeved, you get the bore done to 1/2 inch and make up a new piston to suit appropriate seals. You need top get another spring as well. There are some kits around but the one that threads into the master cylinderr is tricky. I had a friend make up the bits and loctited the sleeve [ which was a mild press fit ] into the old cylinder. The original bore size meant you had to grab the brake rely hard to try to stop the bike. With the 1/2 bore, the leverage has increased and you can easily stop the bike. [ you can even lock up the front wheel if you squeeze the life out of it ] I filed the lever a bit as well so that it had a little more travel. The lever nearly touches the hand grip when pulled in hard, but you stop like a modern bike.
all the best.
ps I don't know why Norton went to a piss poor disc brake system, when the previous drum brake was far better for normal riding. I have a 71 with drum and a 74 with disc. The drum is just as good as the modified disc system .Maybe for racing conditions, the disc will be better.