do you have to lap your flywheel?

If the tapers are in good condition there is no need to lap.

If at sometime the flywheel has broken the key and spun it may need to be lapped to allow it to interference fit to the crankshaft.
 
its more a case of lapping the crankshaft and the "socket" of the flywheel. The idea being to make certain the flywheel seats itself well on the taper of the crank.

There is no performance to be gained, but if you want a solid motor to last when you rebuild, it is good practice to do it. Could prevent a headache later
 
Lapping helps mill the flaws out of the mounting surface of the crank and flywheel. The flywheel is held in position by a press fit design. The key is only designed to line the flywheel in the correct position on the crank. It's not designed to secure the flywheel from moving on the crank.
 
If both surfaces look in good condition there is no need to lap.

Lapping should be only used to clean up a flywheel that has spun and destroyed the mating surfaces.

If you want confirmation, tension up the flywheel nut to 20 ft lbs and then try to remove it with a puller.

If it in any way resists coming off, then continue to tension it to 53 ft lbs and all will be apples.



Intervention breeds intervention.