As for the bore centers and alignment, most of the time a cylinder can be bored using the old centerlines and everything is OK,, in the case of the Listeroids and India and you assume nothing. Remember these are the engines that are routinely shipped with half gaskets under the blocks so things dont go into a bind. The tops and bottom decks are sometimes close, sometimes not, the stud holes are sometimes lined up with the bores, sometimes not. Years ago I chucked a Listeroid block on a 4.500" mandrel in the big lathe just to check alignments and it was like every operation was randomly done, really that bad. To answer your align with what question, When they are off it sometimes requires a bit of head scratching to know just which surface your going to call correct and work from to correct the others. You also have to be certain that enough iron is present to correct it. You not going to correct much with a .010 over bore. With a 5/52 sleeve you can do a lot. You then correct the top and bottom decks with the bore and hopefully the guy who bored the throgh bolt holes put them close to right.
As installed the sleeves will be undersized, depending on how much so they either get a pass with the boring bar or a honed with the ridged hone. The pictured one happned to be about .015" under so I just honed it.
I am located in north central Ohio