Last time I did one was a smogger 440 and I used a 3-stone hone instead of a dingleberry hone. It works just fine too. Engine ran well afterwards too.
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Any particular grit that should be used? And, any particular type of ring you should use, or shouldn't use, with this type of hone?
Best choice for a backyard hone'n're-ring is hastings cast rings. They are said to be a little more tolerant to bore specs than some other brands but regular cast rings on a whole are said to be more tolerant to bore sizes and grits that aren't exactly to spec. Last one I did, I used a set of sealed power cast rings. 
