The majority of people ream guides...
This is bad practice as they should be honed, honing gives a better, rounder bore, after all you don't ream your piston bores do you ?
Anyway reaming often gives higher clearances, less round and a rougher surface finish which will let the oil through easily hence the need for 8 seals, however if you hone the guides then the oil flow through he guide will not be enough to cause any issues but will still lubricate the valve stem, F1 do NOT ream guides !
The benefits of a closer better fit are more even heat dissipation through the surface to the head and cooling is improved, much better smoother running because of the superior roundness and accuracy.
Also another plus is a closer fitting valve to guide also seats better and keeps the seal for longer between the valve head and cylinder head seat.
Well, welcome back Martin. Hope all is well with you. We have missed your pragmatic advice on here for too long.
Pete