lapping is the process of grinding two parts together so that they have zero (or close to zero) tolerance (gap) between them. It is typicaly done in automotive for fuel injector parts (since tolerances are extremely small and are not manufacturable with normal processes).
A fine grit is put on one part and then it is moved against the opposite part until the tolerance is eliminated.
In a heat exchanger part (like a cpu/cooler) where a reasonable amount of thermal grease is used the efficency should not improve measurably.