You're talk .005" in each side of the cylinder. IMO, it's not a big deal so long as the thing's got straight round bores now. One of the reasons I align hone everything and use the shop I do is because the modern equipment can fix factory machined angles and cylinder placement but it indexes off the cam AND the crank centerlines in one shot. Then when it's decked it's definately 90° to the crank centerline which is 90° to the cam and bell housing flange, and the holes are spaced where the engineers wanted them. There are some really bad blocks out there in terms of bore centerlines...lol. The old boring bars simply center themselves on the existing hole, and the machinist levels them to the deck. So when something is off originally, the older equipment basically exagerrates the error unless the guy is ultra-ultra anal and takes some time to verify everything.