By definition "Blueprinted" (a term I havnt heard used much in the last few years) meant pulling down an engine and perfecting the factory parts and tolerances. ie. Bore sizes perfect and parallel, rods and pistons perfectly weighted and balanced along with the crank and flywheel etc. It may have also extended to CCing the ports etc. I agree with Jeff and his 3/4 race cam analogy. Buyer beware.
Andy.