Hi Martin
To my mind the only way a taper, either external or internal, can be 'lapped' is with a 'lap' of the exact same taper – usually the matching component.
As Michael says in his example's – a glass stopper, a valve seat – another is a plug or drain cock.
To hone something externally or internally would not be impossible but unlikely – the hone would need to be manufactured to exact standards for as you comment any slight wear would result in minute changes of taper which would defeat the object.
A floating three leg hone as used in the motor industry will not take out a taper nor ovality – it just follows such irregularities. If used incorrectly though it can produce a barrell mouthed internal taper.
The IC engines I have made do have 'tapered' liners in as much as the lower liner portion is lapped more than that of the top. It is not measured dimensionally to any degree but done more by feel – the piston lapped parallel to just enter the liner at the botom then slowly hand lapped to fit the bore. I know that some do but there is no way I would attempt to do this as two individual components without the use of some very sophisticated measuring kit. Unfortunately, despite it's desirability, I don't possess such kit.
Hope that helps some
Ramon (Tug)