Magnum 360 Budget Rebuild Advice

So are you guys are suggesting, that as long as there is no ridge and the factory crosshatching is present there is no need to hone the cylinders?
"need" ??? There is no NEED. It will not "blow up" or be "unreliable" because of those cylinders. If you "want" to hone and re-ring, it won't hurt it. If you "want" to, you can align bore it to true up cylindricity and make sure nothing is out of round, put new pistons in and the such. That would gain the most performance. It's all what "budget" means to you and your intended purpose of the vehicle.