"Do you guys hone your cylinders when installing new rings, and if so, with a ball hone - what size grit? "
The wall finish depends on the ring material - cast iron, chrome faced, moly, etc so you need to know what the ring manufacturer recommends for wall finish. It can vary from 180 to 600 based on the rings.
There is some current thinking that if you are just refreshing the engine and there is no reason to bore the motor, then there should be no honing. In other words, honing is ONLY done if there is boring. If you are just putting in new rings, and did not need the engine bored, you would not hone the bores. Yes, this goes against conventional wisdom re ring seating but there is a LOT of "new" thinking about how all this works and plenty of reported evidence that it works better and that ring seating occurs instantly and no break in is necessary. As I said in another post re ring gaps, I am not recommending this - just pointing out that there is a lot of interesting new information about how engines react that are different than perviously thought. It's worth doing some searching about it just to get an idea. But take it from me, it's difficult to change to something that goes against MANY years of doing it a different way!

Dry piston/ring installation is another new concept at several shops I used to work with in car -engine building do that now but I couldn't bring myself to do it on my Commando last week so I compromised by lightly wiping some oil from a cloth onto the rings and piston sides...I guess I call it the "semi-dry" method!
Re ball hones. They work well but I would not use one in a non-bored engine. Because of their design, they will follow any warpage or non-true surface, just putting a nice hone on the non-true area that the piston ring won't touch. The standard 3-stone hone tends to true the surface to some degree. Obviously, any type of hone is not designed to actually true the cylinder wall, that's what boring is for.