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I don't have any problem with HR but if it's too big it might look a bit strange on screen, so a short one (maybe, say, 20%) would look OK.
As for using modern grammar and punctuation, I'm all for that as long and there is also a copy with the original grammar and punctuation available. So I'd suggest that you make two versions of it, one old one with the original (as the author intended) and one with the modern. Let the reader choose which they'd prefer.
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