Whether you should lap the barrel or not depends on one easily seen condition. To learn whether your gun needs it, first go buy some factory patches. (the pre lubed ones take one more variable out of the test.) You didn't say what caliber you have but in general a ball about .005 under the bore size (.495 for a .50) and a .015 patch works well for starters.
Load with about the same number of Grains as the bore, that is, for a .45 use about 45 grains, for a .50 use 50.
Have a friend or someone at the range watch for the patch about 10-20 feet down-range and fire off 5 to 10 shots.
Recover the patches and examine them. If the rifling has cut thru the patches material it indicates the edges of the grooves are too sharp, or have burrs still on them. This says the bore should be lapped. If there are no cuts thru the patch then lapping will do little to improve the accuracy.
Some of the barrels out there are hard chrome plated. This plating is HARD (over Rockwell C70) If your gun needs lapping then do it but if it is plated it will take a lot more work to dull up the rifling edges. Hope that isn't you case.
To lap my GM barrels I use a bore swab covered with a cleaning patch and a lot of oil and some "fine" valve grinding compound (available at a auto supply) and then start running it up and down the full length of the bore. Check it often to see if it needs more oil or compound. This is a long precess requiring 200 or more strokes so plan on doing it over several hours or even days.
I go one step further and then wrap a thin layer of steel wool (#00 or 000) around the swab and give it another 100-200 strokes. (if you do this, replace the steel wool often and don't forget the oil).
Throughly clean the bore and oil it like you would with any fine gun.
Take it back to the range and re-test to see if the patches are still being cut. If you lapped it enough, you should be able to go up to a "hot" load like 80-95 of FFg (or RS) grains without seeing cut patches. (The area ahead of where the ball rested may be blown to He.. but thats OK).
Good Shootin