> very slightly smaller
Bigger surely.
1/4" becomes 25.6/4 = 6.4mm instead of 6.35mm
Still awkward sizes, if I was doing it I would, as far as is reasonable, round all the dimensions to a whole mm (or half mm for small dimensions e.g. 1/16" – 1.5mm) and use metric bar stock for crankshaft, piston rod etc.
This approach would mean any given imperial dimension might translate to more than one metric dimension, in the interest of making sure it all fitted together, so the proportions would change very slightly.
Neil
P.S. The real beauty of the imperial system is the way it lends itself to both convenient subdivisions of larger assemblies and to elegant proportion. The Metric system offers potential for even better proportioning using Renard numbers (as applied to metric fixings – R10" series of 1, 1.2, 1.5, 2, 2.5, 3, 4, 5, 6, 8). Unfortunately Renard numbers can sum to Renard numbers from more complex or even no Renard series, 1.5+1.2=2.7. This is unlike fractions which never sum to fractions with a larger denominator. This is why fractions are so convenient for designing, once you are comfortable with them.