I use a lathe, with the wheel cylinders or the master cylinder mounted on a holding fixture in a 4 jaw chuck. If you have several cylinders to reline, it's easy to make an alignment fixture that plugs into the tailstock that's a slip fit in the bore- - - -then adjust the 4 jaw chuck with a "last word" dial indicator to keep the hole on center. Then use a carbide tipped boring bar to open up the cylinder for a pressed-in sleeve. Bore and hone the sleeve to a finish diameter. Setup time for the first one is probably 75% of the job.
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!