As I said, every mill and head combination is different. I also occasionally use those cheap Chinese boring bars to bore steel plate but mine have been honed and sharpened over a 30+ year period and cut well. I use a Borite cobalt set of bars for fine boring and they are hard to beat in a boring head. I own but rarely use inserted bars in a boring head.
I think the head also makes a difference in how well the set up works. For smaller holes, I prefer a Criterion S-1-1/2 head. It is small but has a relatively large dovetail bearing surface so it is very rigid for its size. It will take a 0.025" depth of cut in mild steel plate on a Sherline mill and more on my RF-31 using those brazed bits. My DBL202A or B head will go deeper. However, this is on my set up and yours will differ; you have to see what your limits are.
The depth of cut you can take accurately is different from the depth of cut you can take roughing. This has to do with the bar material, how sharp it is, and your cutting conditions. I find that with carbide bars, I have to run faster but there is a limit to how fast you can go because centripetal forces increase with speed; doubling the speed increases centripetal forces by a factor of 4 so balance becomes a real issue with speed. That's why I said you gotta' try it and see how big a cut you can take at what speed in order to see what you have to work with.
I also prefer boring heads that take lighter/smaller bars. I have two Criterion S-1-1/2 heads and two DBL-202 heads; one of each can take 3/8" or 1/2" shanked bars. If I have to go deeper, I use the 1/2" bars. If I have to go to a larger radius, I use the lighter 3/8" bars because mass also affects centripetal forces and that limits how big I can go with the speeds I have.
Boring gets complicated sometimes, especially if you have to be accurate. Boring a hole in a plate is usually no big thing but boring one in a casting to tight tolerances ... yeah, that can be a very big thing. To do that, you have to know your head, your bars, understand how centripetal and cutting forces work and how your mill handles all of it. Only then does accuracy become easier to achieve.
I did not mean to imply that you're taking wimpy cuts; far from it. I meant that in order to know what your mill and boring set up can do, you have to test it and see.