It all depends on your rings.
Every reputable ring manufacturer supplies detailed information regarding the type of cylinder finish that works best for their rings. The ring manufacturer will tell you what grit finish and what type of cross-hatch pattern to apply to the cylinder to get the best results for their own particular rings. The way I see it, they know what the make-up of the ring is (style, material, alloy content, etc.) and they have done the research and have to stand behind their product.
All of the old motors I have run alloy pistons in iron cylinders, and I use Hastings rings - either iron or moly, whenever I can, because I know what kind of results I'll get from them. If I recall correctly, Hastings recommends a 240 grit finish with a 45 degree cross-hatch pattern for those type of rings and cylinders, and I follow their recommendation. I don't believe in using any secret voo-doo procedure for this step in a rebuild; I just do what has worked well for myself and others in the past.
I use the 240 grit silicone carbide Flex-hones for the combination of iron cylinders and Hastings iron or moly rings. In order to get a nice 45 degree cross-hatch you need to correctly match up your r.p.m. and your stroke speed.
I was just thinking about one of the old Triumph "guru" break-in tips, . . . .
don't dump any Bon-Ami or Ajax scouring powder in your intake