Found some old ring fitting instructions and the figures it gives for compression ring gap clearances are a min of 0.003" (3 thou) per inch of bore diameter and a max of 0.010" (10 thou) per inch of bore diameter. It also goes on to say that maximum ring gap is not especially critical but ideally shouldn't exceed the 0.010" per inch figure. For oil rings it can be up to 0.070" (70 thou) regardless of bore size.
Also make sure that the gaps on each ring are not all in line with each other. eg: for a 3 ring piston set them at say 120 deg apart.
The most important thing is to make sure the gap is at least the minimum otherwise you risk the ring gap closing up when the engine is at operating temp and that could spell EXPENSIVE.
Be aware that there are so called gapless rings around as well and that's a whole new ball game.
Generally if the tapered edge is on the outside of the ring the taper should have the largest diameter toward the bottom so that you get the oil scraping action.
Edit:Other ring types have a chamfered edge on the inside diameter and this should be at the top. The idea here is that compression gas can get behind the ring and press the ring face against the cylinder. This type usually has a parallel face against the cylinder wall.
However all rings are not created equal and the ring set may have different compression ring types for each groove in the piston.
You really need to refer to the instructions that should have come with the ring set. Failing that you need to talk to the blokes that supplied the rings.
You also need to be surgically clean when assembling everything as just one tiny spec of grit can cause problems.
Make sure you clean the bores until you can wipe a clean cloth around the bore and not pick up any colour on a white cloth. Honing grit left on the honed surface will continue the honing process when the engine is running. Not a good idea.
Edit: Clean the bores with hot soapy water and a scrubbing brush and then lightly oil the bore and do the white cloth wipe test and repeat as many times as necessary.
Hope this helps to set your mind at rest
RonR