A lot of people realize that honing a cylinder does not produce the straightest bore, use a boring bar first, then finish hone. You are then honing a cylindrical bore and you try to follow that.
Now if the swingarm bush is just shrunk then the hone may do it nicely..if you dont run off the ends a few times, but you will have no feel. If the bush is shroomed at the install end, then part of the hone will ride on the high part, and the other end is cutting clearance, where it may not be needed. So the bushing can end with less contact than desired.
If you had a tight fit on the assembly but could just get the shaft thru with light force with a hammer, the difference between that and being able to twirl the shaft with fingers would be about 5 cuts with the reamer, it cuts slow but precisely.. and it des not remove material merely by touching againstit, bronze is tough and resists cutting..
The next thing that happens is you ream one bush and the shaft is just sliding through, when it get to the inner end of the other it stop. You look at it and notice that it is off to the side very slightly! How are you going to correct that with a hone?? You dont, just keep honing away till it fits, then the shaft is riding on a few high spots, a fe month later it is loose.. again.With the expanding reamer you can lean a bit one way or the other tochange direction slightly.
Another question begs to be asked.. if you are running a closefitting bronze bush, should it have a spiral track for lube??