I doubt that a 92 swingarm will fit, as it was a new chassis and motor from the 91.
The cylinder is indeed Nikasil plated, and cannot be bored without sleeving or replating. If it is in good shape, then just get a new piston rings, and bearing kit, set it in with the right piston to cylinder clearance and ring gap and run it. The easiest way to do this, is to have a shop measure your cylinder, and order you the correct piston kit, then check the tolerances when installing.
That bike is older, but it is far from antique. It still offers reasonable performance for a relatively cheap price. The suspension was a little rough, but could easily be improved if you chose to invest a little money into it. If you chose to do this, you would have to keep the bike for a bit, as performance modifications like this don't really increase the value of the bike.