Well, here's my advice. (And it's worth every cent you paid for it.
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The ability to machine most of the part in a single chucking is a big plus. I would definately try to get the bore machined for concentricity in the same setup as turning other critical features. Working the part from 2 ends will almost certainly unecessarily compromise precision and add cost. The only reason to work the part from both ends is to help alleviate the overhang problem. Stop trying to get a 63 finish and +/-.0004 with the bar.
I can see how you might want to face and turn the first end, and drill halfway through the part. Then flip the part end for end, and finish machine the rest of the part. You will have fewer problems drilling.
You are throwing away quality and money and turning center time. Bore for position, hone for finish and tolerance. You will be amazed at how quickly you can achieve your objectives.
A hone is a funny animal. You have to work with one to understand how much money you can make (save) with one and where it may help you in other parts. Similar to CAD, waterjet and vacuum heat treating, IMO.
Find a local shop with a vertical hone and some expertise and pay them to show you the processes' capabilities. Or have one of the manuf's train an operator AND an IE. I wouldn't farm out the honing operation. Better to keep control of the quality and lead times in house. Hones aren't that expensive, are trouble free and easy to learn. You won't need a dedicated operator unless your work rules require one.
Last, I personally have stopped trying to get customer's to produce sensible designs. Producing overdesigned parts with practically no tolerance is what I get paid to do.
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Tighter specs means fewer competitors and more money. Let your competition whine while you bring in more accounts. I also will not correct a customer's drawing without being compensated or certainly not until after I have a PO for the parts. Why should I help my competitors? Good luck!