What exactly is barrel lapping?

[Cut'em Jack]

Clearly its a way to smooth out the bore of a rifle, but how? Do you just take jewelers paste and a patch/jag and essentially polish the inside of the barrel or what??

Soak a mop in Flitz and have at it?

[Ridge Runner]

the process of smoothing the inside of the barrel, by pulling a soft piece of lead on the end of a rod coated with abrasive paste (lapping compound) through it numerous times.
RR

[Cut'em Jack]

Is it that easy? So the lead takes the rifling in its shape and buffs as it passes back an forth.

[Ridge Runner]

basicly yes
RR