Yes honing with a torque plate will eliminate the out-of-round areas. I hold to <.0002 out-of-round and taper when honing. Are you honing with an actual honing fixture like this:
https://shop.snapon.com/product/supplemental/Engine-Cylinder-Hone/LIL15000
or just using a glaze breaker?
The next time you bore a V8 block, use the torque plates. If the block allows it, wrap the bottom of the cylinder sleeve with two or three evenly spaced short rubber tie downs to eliminate any harmonic distortion as the tool cuts. Take a final pass of no more than .002" with a very sharp tool and go slow. Then, use a cylinder hone like I referenced above. You're not trying to take out any substantial material with the hone. All you want to do is set up the cross hatch pattern and no more. You should be able to get the cylinder almost perfectly concentric.
I use a Sunnen AN-112 hone.
I bore to .0050 left, you have to do that to completely remove fracturing left from boring. And yes, I prefer to have blocks bored with torque plates on.
then
hone to .0005 left with 220 stones hone to finish with 280 stones plateau with 6 strokes of Sunnen MMPHT Brushes.
These brushes put an amazing finish on the cylinders. Here's a cylinder bore worksheet and the final cylinder specs for the Dodge Magnum 360 I was talking about.
