Just my opinion...
If you want the rings to break in properly you do. 280 Grit. But I think your just trying bandaid this engine as it should be OS to .020 if you really want it to last. At .010 with a standard piston your going to start getting piston slap. You also need to remove the ridge at the top the cylinder or you will run risk of breaking rings and destroying the cylinder.
The problem with aluminum cylinders you probably going to be out of round too so the rings are not going to seal very well. The cylinder will also vary in size as you check it at the top, middle, and bottom of the stroke. One the ways you correct this out round and varying diameter is using a rigid cylinder hone.