Valve Guides

LOL... Indy?? they have the same issues..lol. that's funny as hell... :D
I think the re-hone will be fine. but, it does require the block to be stripped bare, so it can be properly cleaned afterwords. So order cam bearings and freeze plugs for it. Also, MAKE SURE the shop you chose has the proper tooling to do the job right... They need the torque plate, the usual coarse stones, fine stones, and a brush hone to ge the plateau finish. During assembly, after the block is washed with soap and water and brushes, wipe each bore carefully with solvent in the direction of the hone marks. Keep doing this until the towel comes out clean. Squirt a little 30wt oil on the skirts and pin areas, and then just WD40 on the rings and ring lands. Then install it. It should be fine. No synthetics until there's 1000 miles on it.