Dan had a chance to play with a sbc a few years back with a torque plate could pull it out of round about .002 on a 400" with out being prepared with a torque plate but not in the case of a 350" more meat around the studs I guess, also the temperature of the block had a lot to do with it. Now as far as Align hone goes if you can tear down the motor and look at the bearings and they all look the same for ware my feelings is don't fix what isn't broke.
The bottom line is some there are machinist and there GOOD machinst just like drivers some know what to do with there equipment and some don't
Ken