12 Bolts is right on the way to 'straighten' the bore, but I'm curious as to how it got to be off center. If you bored the original barrel the bit, pilot or not should have followed the original bore. I've always used piloted bits for liner installation, but I can't imagine the bit getting that far off center from the bore. (A photo would help.)
I'm curious as to how this will work out. So please document the process and the results, good, bad or otherwise.