Though I own a Kohler-powered PT-425, I think if I had a later model Robin-powered one with all the pumps on one end of the engine, that I'd consider using a Honda for a air-cooled repower over the Kohler...
I have never heard ANYTHING negative about Honda commercial-grade engines, and they power most of the small rental equipment on the market. Look at the cement mixers, etc., that get used all day for a living -- chances are, it's Honda-powered. If not, it's more likely to be a Kawasaki, instead of a Kohler, Briggs or Robin (in that order)...
Another major reason is NOISE -- Honda engines quietly purr....
I think with a Honda-powered PT, you'd probably notice the hydraulic whine more than the engine noise...