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Yep this is a grand topic.
First off +1 to all the senior responses above.
Utopian's link is a good visit and worth the time.

Lynn's experience is vast and if you need
one answer read his.
...

+1 to the previous posts.

I might change the question from "How often" to "Toward what purpose".

There are two general purposes for lapping a hone.
One is to lap it flat.
Two is to clean the...