Deejay, I think Honda is in competition with Briggs for the small engine business, and they can't play in that game without offering commercial-grade engines for those who want them, and will pay for them. I didn't know that the Victa 550 had a commercial-grade Honda engine though, and I certainly didn't know that Victa made a commercial grade Powertorque with a cast iron cylinder. Since it still has a cantilevered crankshaft, and presumably a plastic carburetor, I'm not about to develop any enthusiasm for that product, though.
My only concerns with Japanese-made Honda engines are that they are very complicated, which can have maintenance implications, and they are relatively expensive. (Sort of a modern equivalent of the Lawnboy 2 strokes). If I were a contractor wanting to use a push mower I think it would have a Honda engine. The question of made-in-China quality to me is a temporary, transitional issue: Honda is not in the business of selling unreliable products, and they'll make sure the problems are fixed as soon as possible. However for the person who just wants to mow a small grass area at home, I think Briggs has traditionally offered a better deal than Honda: cheaper, easier to maintain, cheap parts (in the US) and a reasonable lifespan in that kind of service.
And all of that is just my opinion based on the things that matter to me. If Redeye has had good service from his half-crank commercial Victa 2 stroke, that is what counts. If it ever needed repairs, aside from the silly carburetor, the rest of it seems easy to work on - and I wouldn't say that about a Honda.