To the best of my knowledge if you race one to the point of it needing a rebuild, you can not simply bore it and plop new pistons and rings in. Am I incorrect?

 

There is room for one overbore, but frm is the reason most all performance, race, exotic engines mfg's especially use them. High revving, low friction provides reliability. They are great! Sleeves. I'm not entitely disagreeing with you. Once it is damaged beyond the the very low .0025" overbore. Shes no more.
Most peeps just discard it so quick, not realizing how strong they really are. Etc.

 

Hell even getting some these days would be a feat. Tho. Anyways back to topic.

 

FRM as a material is superior to iron. There isn't much difference in the procedure of boring and honing FRM liners. The only real difference is a special ceramic paste and use of non ferrous stones. I'm getting my block done for $200.

Once honed it looks completely different to a regular cross hatch job. The FRM looks almost glass smooth unless you look really closely. It's not until you wash the block before you slap assembly lube everywhere that you obviously see the cross hatching.

To be honest as long as the bore isn't ovaled and scratched boring and honing is unnecessary.

 

I have read the same, still have heard some machine shops turn people away

A positive imo is you could have one ready and not have to worry about it rusting away.

 

Every F22 I had issues with was due to oval bore in cylinder 4. I'm sure the K will do the same but it's a hell of a lot cheaper to fix when it happens.

 

Same, motor I'm building now had slightly worn cylinder 4 rod bearings and ovaled 2 & 4 bores. But it was slight and totally fixable, and at 185,000 miles on the engine I can't complain.