Torque Plate
In the St. Louis area, AMT Racing Engines has a Duramax torque plate. According to their website,
"You can't afford not to torque plate hone your block. It produces the best ring seal possible and therefore makes more power. We installed studs in this block which required drilling and tapping for the larger diameter studs. They distort the block differently than the factory bolts, so torque plate honing is a must. Note the spacers used to mimic the amount of thread engagement when the head is installed and therefore recreate the stresses as closely as possible. If you hone your Duramax diesel block without a torque plate, you are definitely missing some power gains."
These guys do a lot of performance engine machine work and have a great reputation as meticulous machinists. They are a good resource if you are in the area and need top notch machine work done, whether line hone, bore and torque plate hone, install studs, head work, etc.
Johnboy is exactly right that balancing is needed. The stock stuff is not even close to perfectly balanced (manufacturing tolerances for mass production), so any performance upgrade is an opportunity to correct the situation. You might be surprised how much better a balanced motor runs. It's not something you should skip. Motors that are out of balance will eventually tear themselves apart, even though it might seem that they smooth out above a certain RPM.
BTW the AMT website is
http://www.amtracingengines.com