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So lets say the taper is .004..

The controversy seems to be the ridge, so why not use a ridge reamer to remove the ridge and then hone???

BINGO
The reamer should be used BEFORE piston removal to avoid damage from rings catching on the ridge. If you can feel a ridge it can catch a ring and it don't take much to break a ring land. If you aren't reusing the pistons it isn't a big deal but still.

Clean it, if it's Dirty. Oil it, if it Squeaks. But: Don't fix it, if it Works!