Your not going to get the finish and remove metal in any consistent manner with a $10 hone. You need a fixed stone hone like a Sunnen to do a wheel or master cylinder. When I have mine done, I watch them hone it out. I examine after they hone a bit, and then I tell them whether it is good enough or if it needs a little more. I don't go over .010". I just watch where the seal on the end of the puck rides. If it cleans up your far enough. If there are pits where the spring or puck rides near the center, you can leave them. If you are unsure of the final result, replace the wheel or master cylinder or have them resleeved. Any type of flex hone doesn't belong in a wheel or master cylinder in my book.
Many people don't even like to hone an old wheel cylinder. Be careful so you don't make a faulty brake system. It isn't worth the trouble or someone's life.
