I think honing king pin bushes is fine but use a reamer first. A hone will only follow the shape that is already there. If it is out of round or even a burr on the bush from fitting it, the hone will leave the ID out of shape. Ream it till you have a full cut and stop while it is a bit too tight. A ream is fine from there on but make sure you don't leave the bush too tight. You will never control the car when you hit the road.
Does someone have a part number for the reamer? Where to purchase?
Yes Randy Gross for brakes. I bought a set. Excellent product and excellent service.
https://www.fordbarn.com/forum/showthread.php?t=228940
I'd sure ask him about the spindles.....