What year is the 85?
If the 85 is the correct yr, the block must have the ports machined to 115/140 specs. If not done, you will just have a mismatch of parts that will have a weaker hole shot than before and erratic midrange, with little or no top end improvement.
Where in the world did you hear that the loss of the top piston ring is of no concern?
Why waste money on 'balancing the con rods and pistons'? Scalloping the pistons and cylinders?
You still need the exhaust tuner for the 140.
A much easier, often cheaper, and in most cases the only way, is to just remove the 85hp and replace it with a 140(crank rated) or a prop rated 110/112/115hp