Mike,
Moly rings seat pretty easy. The hone you are using is fairly rough for molys. You might want to consider roughing the bore out with a 280 grit and finishing with about a 400 stone. Some ring manufacturers like to plateau hone the finished bore, check with your ring manufacturer.
As far as seating the ring, again the moly rings seat real easy. Do not baby the motor but don't go out and stand on it in first gear. Even unseated rings will allow the engine to melt your tires, and they won't seat. Take it out to a remote stretch of road go up around 40 -50 mph and stand on it in high gear for a few seconds. Once or twice is all it takes especially with moly.
Don't try to set any land speed records. The seating process is occuring while the motor is grunting not when it is on high C. You should go conservative on your tune up untill you get sorted out. Detonation will knock the moly out of your top ring in the blink of an eye. A more durable but more difficult ring to seat (more grunts req'd) is a stainless top and a ductile iron second. They are also more expensive.
The stainless top ring is as close to bullet proof as you will get and the ductile iron second will absolutely amaze you. Order one extra second ring and try to break it. You can twist it around like a pretzel and it won't break.
A good place to get virtually any ring you want is TotalSeal in Phoenix. Go to their website:
http://www.totalseal.com/ and get their catalog download. It is a great technical reference and also a catalog. By the way if you don't see or can't find what you are looking for they will custom manufacture ring sets for you! Neat place, great products, easy people to work with.
By the way your engine will like you better if you do not try to use a
synthetic oil during break-in. Use a good detergent between 10W30 and 20W50 depending on how tight you built the motor. After a hundred miles or so switch over to
Amsoil synthetic and you will be real happy.
Ed