The bore is not a 'smooth' finish, its should have a fine, cross hatch honed finish, that oil will stick to.
Over the years, burned oil on hot bores leaves a deposit of shilack, or a 'glaze' which oil doesn't stick to, and over which the piston rings will 'surf' letting oil past the rings into the combustion chamber, making the engine ruin smokey.
You can remove the glaze and put a new honed finish on the bores with a tool called a 'glaze breaker' or bore hone, which is like three thin knife sharpening witstones in miniture version of a radial washing line that fits in an electric drill. costs about a tenner, at a guess.
All you are saving by NOT taking the heads off is undoing ten or fourteen bolts, and the price of a pair of cylinder head gaskets.
If you have the motor out, and can re-fit the valley gasket and heads nice and neatly, without the hassle of working over the wings of the car in the depths of the engine bay, cramped by the bulkhead, if anything its easier, and more likely to be done more neatly, accuratly and well.... so the engine shouldn't suffer from it.