Jim - not too many do just a rering job anymore. the cost of parts and the effort you put in is not that much of a difference from doing a real overhaul.
your chance of making the engine run satisfactorly without blow by and oil usage is small. I advise pulling the engine and taking it to a reliable machine shop and have it rebuilt. make shure the honing is done with a deck plate and your engine will be better than new. good luck!
The dingleberry hones like 1956 Sedan Delivery showed are probably the most popular for a home deal. I think they are better than the old light duty 3 stone hones powered by a drill motor. They are most consistent and easier to use. But they won't straighten a taper or an out of round.
A good automotive machine shop will either use a heavy duty version of the 3 stone hone, or they'll use a power hone, which is a specialized machine for honing blocks. Power hones used to be almost exclusively for race engine shops but lots of rebuilders use them now because they do better job with fewer goofs, and they do it faster. The good equipment will straighten the bores and eliminate taper and egging.
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