All repair sleeves are sold "semi-finished" as in several thousandths smaller than the minimum diameter. Then it's bored to whatever size is required to fit the piston. For instance, a sleeve for a 261 will be about 15 or 20 thousandths smaller than the standard bore- - - -3 3/4". After installation it gets finish-bored and honed for proper piston fit, standard or oversize. The cylinder actually gets bored twice- - - -once to provide about a .002" interference fit so the sleeve has to be driven in with a BFH and a piece of steel plate on top of it, then the boring bar is set up again and the sleeve is cut to about .002" or a bit more short of the desired finish diameter. Then, the sleeve is honed to the final diameter, removing the machining marks of the boring tool and establishing the proper cross-hatch pattern in the cylinder for ring seating. That's why half-donkey machinists don't like sleeves- - - -they're too much work to install properly!
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
Cringe and wail in fear, Eloi- - - - -we Morlocks are on the hunt!
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. - Ernest Hemingway
Love your enemies and drive 'em nuts!