I'll do a maximum or supermag chamber by hand, or even make a 7-08 into a .280 AI, but I would not try to go from hornet to .223 w/o a lathe, and knowledge in how to properly get the bore centered and aligned to the tailstock.
High production chambering is usually done with an undersized roughing reamer, then with a finish reamer, but I'm sure any gunsmith you hire to rechamber the Ruger hornet would just use a finish reamer.