It truely depends on what you time is worth to you and what tools you have at your disposal. I bore mine and the local guys here at work after hours. Takes about 15 minutes on the lathe. I just knock down the lip for a straight 60mm bore. I have also done 62mm bores with a custom machined butterfly, to be honest, you can't tell the difference between the straight 60mm and the 62mm, have had both on my rig and the extra time was just not worth the power gain. Now if I had a fully custom 4.8+ liter stroker, then I would consider just moving straight to a Mustang 65mm throttle body and adapter plate.
You can use a drimel, just get a bunch of sanding drums and it takes a little time and don't go above the butterfly line, you'll never get it to idle.