Probably someone like Butch or Josh is better suited to answer your question, but I'll take a stab at answering it.
When you use a boring bar you need to open up the chamber in small increments. As such the machinist needs to measure and keep track of the inside diameter as they cut. You also have the neck and shoulder to deal with. It would be difficult to cut that with a boring bar. Most machines are accurate enough these days to hold within a .001" tolerance, so the dials keep good track of where you are at. However, the final cut can often be off, and some machinists will take an extra "spring pass" as the boring bars tend to have at least some spring when coupled with the tool post/holder, carriage, lead screw, et al.
The reamer is a set fixed size, and most machinists will only use the reamer for the last pass. So you really do need both, boring bars and the reamer so that your chamber is the closest to the final dimension. The reamer is the most accurate. You could use only a boring bar and my guess is it will work fine, because firearms do not require the accuracy. You might be able to imagine that we have evolved since muskets and we are more accurate today. Also consider that precision shooters have been trying to diagnose this process for possibly as long as luthiers have been trying to understand why the Stradivarius violins sounded so great.
One other point about the reamer as it relates to allowing a more accurate chamber in shape and/or consistency, most gunsmiths tend to use them as little as possible to keep them as close to original spec as possible. Any time you use it you risk the chance you may damage it. Many lathes have the power to cause bad juju when you make a mistake. Reamers last if used properly, but many people get impatient and that dulls them quicker. Lots of factors including machines style of chambering (headstock/centers), skill, power, et al...
With all that said, I don't want you think I know what I'm talking about, but I have a number of reamers and most machinists use reamers after drilling so that they can have the most accurate holes as well, for more info you could probably search online or look in the Machinery's Handbook. Maybe Butch or Josh can explain it better than me. I'm not a professional gunsmith, nor am I a professional machinist.