When I went through a millwright course back in the late seventies, hog meant remove a lot of material before the final cuts
The thing is, no matter what, the invisible center line of the cylinder and the boring bar have to be right on, are you attempting to bore then cylinder or hone it out 30 over?
You wouldn't need a mag drill as far as I know to hone it and researching this I see some guys have accomplished boring a cylinder this way but also have ran into some problems with cylinder taper, you definitely should have a bore gauge and mike or good calibers to measure outside piston diameter.
As I wrote before when you buy the tools needed that would cover a few cylinders being done by a shop
I always used the example, "if we were out at sea and lives depended on". Sure we'd do whatever necessary to get some engine or piece of equipment up and running but in your case, I think the better way all the way around would be a good engine shop
Just my opinion