Another update. I shipped the cylinders, pistons and rings to Utah Crankshaft & ShortBlock and they measured the piston skirt to cylinder clearance and all 4 cylinders measured differently and were at the high end of being within the maximum wear limit. The machinist recommended 0.75 over NOS pistons and rings which I ordered today on ebay. Utah Crankshaft will rebore the cylinders to the NOS Honda pistons and we will see if that cures the smoking problem. I will post an update once I have the bike back together and running again.
One of the largest problems I see with these engines after a 'reputable' machine shop worked on them is: most machine shops INSIST on using non-Honda measurements, substituting [some other measurement] instead.
Honda uses 0.0004"-0.0008" piston clearances in this (and CB400F/500F/550F) engines, This is usually 1/2 to 1/3 of what most (lazy, IMHO) machine shops consider to be "in spec", and your experience echos this, loudly. Most shops work in the 0.0020"-0.0025" arena for "clearances" without looking them up. Recently I helped another rider to fight his way through this problem with his machine shop when they insisted the piston bores were "...well within spec.." (this one in Canada) until the bike owner forced them to go and look it up themselves while he waited (he is also a cop...), which they did. When they came back, hat-in-hand, they then agreed to re-bore it to the CORRECT tiny clearances with new (next-step oversize) pistons, and it worked fine the next time...