OK....
0.5mm is fine. There is a lot of "Meat" in the sleeve... and the cooling capacity of the engine is high. I think there is one company that makes all the way up to 1mm oversize, and they are fine. (that's about 0.40")
When you put the engine back together... you have to make sure that your RAVE valves have enough clearance, so they don't hit the new pistons.