Honing w/ a torque plate has so many advantages, that are not always realized...
Many old timey naysayers laugh, when you tell them about a "torqueplate". I built engines for umpteen years, never used one......
Yes, the final bore will be very close to "round" when it's properly honed.
The rings sealing is the most important obvious thing!!! BUT (without a torqueplate) when you measure everything, gap the rings, put the heads on and torque the head bolts... The cylinders are pulled in at the top (how far from top down, I'm not sure), enough to unseal the rings
(@ the head bolt areas) AND narrow the ring gaps all at the same time...
Kinda poops on an otherwise well prepared engine build, and a lot don't know about it...
Not knocking ANYONE here, just saying....been there, done that...